Cisco Systems shares surged 19% in premarket trading on Thursday. The company announced nearly 4,000 job cuts and raised its revenue forecast, boosting confidence in its AI infrastructure push.
If gains hold, the stock could reach a record high, adding about $75 billion to market value.
The restructuring is expected to cost $1 billion and aims to shift investments toward AI. Job cuts represent less than 5% of the workforce.
Cisco is strategically investing in silicon, optics, and security while reducing roles in some areas.
