Cisco's AI Infrastructure Orders Hit $9.3 Billion As Networking Demand Surges

Cisco spent fiscal 2026 turning its AI infrastructure opportunity into a measurable business. Hyperscalers placed $9.3 billion in AI infrastructure orders with the networking company during the year, including $4 billion in the fourth quarter. Cisco expects approximately $7.5 billion in related revenue in fiscal 2027.

Cisco's networking revenue reached $34.7 billion for fiscal 2026, up 22% from the previous year, while networking product orders rose 40% in the fourth quarter. Total product orders increased 35%. The spending behind those orders is reaching the physical infrastructure required to run AI workloads, from compute and networking to connectivity. AI spending is moving beyond software.

The Orders Came Faster Than Cisco Expected

Cisco had initially expected about $5 billion in hyperscaler AI infrastructure orders for fiscal 2026. The company reported $1.3 billion in the first quarter and $2.1 billion in the second. By the end of the third quarter, the total had reached $5.3 billion, prompting Cisco to raise its full-year expectation to $9 billion.

Cisco took another $4 billion of AI infrastructure orders in the fourth quarter, bringing the fiscal-year total to $9.3 billion. It recognized approximately $4 billion in AI infrastructure revenue during fiscal 2026 and expects $7.5 billion in fiscal 2027.