Cisco, which has a representative office in Ukraine, has launched a $1B fund for investment artificial intelligence startups. Through its investment arm, the company has invested in Cohere, Mistral AI, and Scale AI, among others, and has already invested nearly $200M in the fund.
The Scale AI startup is valued at almost $14B, while Cohere and Mistral are in talks with investors to raise $5B each.
Over the past few years, Cisco has made over 20 acquisitions and investments in AI. At the beginning of the year, Cisco Systems Inc. and Nvidia Corp. announced a partnership, through which they will jointly offer hardware and software to develop AI models.
Cisco is the world’s largest network equipment manufacturer and supports remote access networks, security services, data storage networks, and more.