Cisco's stock jumped 17% as the company reports surging AI-related orders, with the rally extending into 2026 after hitting record highs late last year. The networking giant simultaneously announced it will cut nearly 4,000 jobs as part of a broader restructuring effort.
Why it matters: Cisco's AI momentum demonstrates how infrastructure-layer tech companies are capturing significant value from the AI boom, signaling where enterprise spending is flowing and what investor sentiment expects from the sector's supply chain.