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Cisco launched a $1 billion AI investment fund to support startups in generative AI and large language models (LLMs).

Jun 04, 2024about 1 year ago

Amount Raised

$1 Billion

Munich

Investors

Cisco

Description

Cisco launched a $1 billion AI investment fund to support startups in generative AI and large language models (LLMs), and also announced its backing of Cohere, Mistral AI, and Scale AI, startups valued in the billions as a result of ongoing fundraising sprees.

Company Information

Company

Cisco

Location

Munich, Bavaria, Germany

About

Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on Twitter at @Cisco. SOURCE Cisco

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers