Cisco Invests in AI Startup CoreWeave at $23 Billion Valuation

Cisco Systems Inc. is making a strategic investment in CoreWeave, a rapidly growing cloud-computing startup specializing in artificial intelligence. This investment values CoreWeave at $23 billion and is part of a secondary transaction allowing existing shareholders to sell a portion of their holdings. CoreWeave, backed by prominent investors like Nvidia Corp., is known for its early adoption of Nvidia`s powerful graphics chips for AI applications. This investment reflects Cisco`s strategy to secure its position in the expanding data center market driven by the increasing demand for AI computing power.