Cisco stock surges 7% on raised outlook fuelled by booming AI data center demand

Core Insights - Cisco Systems' shares experienced a significant increase following the company's upward revision of its annual profit and revenue forecasts, driven by a surge in demand for networking equipment related to artificial intelligence [1] Company Summary - Cisco Systems has raised its annual profit outlook, indicating strong performance and positive market conditions [1] - The company also increased its revenue forecast, reflecting robust demand for its products [1] Industry Summary - The demand for networking gear, particularly in the context of artificial intelligence, is contributing to the growth of companies like Cisco Systems [1]