New Cisco AI investment fund not just ‘another billion dollars,’ CEO says

by | Jun 4, 2024 | Technology

Time’s almost up! There’s only one week left to request an invite to The AI Impact Tour on June 5th. Don’t miss out on this incredible opportunity to explore various methods for auditing AI models. Find out how you can attend here.

New AI innovations and benchmarks are announced every day (often multiple times a day), and enterprises are clamoring to take advantage. But sometimes it can be difficult to bridge the gap between what works in the lab and what works in the enterprise pipeline. 

To help support the startup system and expand the development of generative AI and large language models (LLMs), Cisco Investments today launched a $1 billion AI investment fund. The company also announced its backing of Cohere, Mistral AI and Scale AI, startups all valued in the billions as the result of ongoing fundraising sprees. 

Cisco leaders, however, emphasize that the initiative isn’t just monetary: The company plans to collaborate and co-innovate with companies and be “an agnostic provider and platform player in AI.”

“Everybody yawns when you hear about a billion dollars in AI these days — ‘Oh, another billion dollars,’” Cisco CEO Chuck Robbins said today at Cisco Live in Las Vegas. “We’re thinking about it slightly differently.”

June 5th: The AI Audit in NYC

Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure optimal performance and accuracy across your organization. Secure your attendance for this exclusive invite-only event.

Cisco is defining “unique characteristics” in its partnerships, he explained, as opposed to doling out money to sit back and see a return on investment. 

“Part of our investment thesis is that there are unique co-development activities that we can enter into with them to bring you more innovative solutions and help you navigate the AI tr …

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Time’s almost up! There’s only one week left to request an invite to The AI Impact Tour on June 5th. Don’t miss out on this incredible opportunity to explore various methods for auditing AI models. Find out how you can attend here.

New AI innovations and benchmarks are announced every day (often multiple times a day), and enterprises are clamoring to take advantage. But sometimes it can be difficult to bridge the gap between what works in the lab and what works in the enterprise pipeline. 

To help support the startup system and expand the development of generative AI and large language models (LLMs), Cisco Investments today launched a $1 billion AI investment fund. The company also announced its backing of Cohere, Mistral AI and Scale AI, startups all valued in the billions as the result of ongoing fundraising sprees. 

Cisco leaders, however, emphasize that the initiative isn’t just monetary: The company plans to collaborate and co-innovate with companies and be “an agnostic provider and platform player in AI.”

“Everybody yawns when you hear about a billion dollars in AI these days — ‘Oh, another billion dollars,’” Cisco CEO Chuck Robbins said today at Cisco Live in Las Vegas. “We’re thinking about it slightly differently.”

June 5th: The AI Audit in NYC

Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure optimal performance and accuracy across your organization. Secure your attendance for this exclusive invite-only event.

Cisco is defining “unique characteristics” in its partnerships, he explained, as opposed to doling out money to sit back and see a return on investment. 

“Part of our investment thesis is that there are unique co-development activities that we can enter into with them to bring you more innovative solutions and help you navigate the AI tr …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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