The company had announced two rounds of layoffs this year in a bid to cut costs, as it shifts focus to cybersecurity, cloud systems and AI-driven products. Cisco completed its $28 billion acquisition of Splunk in March, which aims to boost its software ...

Companies have ramped up investments in AI technologies which require heavy computing power, creating a spike in demand for data centers, which use Cisco's products such as ethernet switches and routers.

Cisco Systems Inc., the biggest maker of computer networking equipment, gave a strong revenue forecast for the current period, signaling an uptick in corporate spending on computer infrastructure.