DeFi Intel

Cisco’s AI Orders Boom While Gross Margins Move the Other Way

Cisco raised its FY-26 hyperscaler AI orders target to $9 billion and its AI revenue target to $4 billion. At the same time, Q3 non-GAAP gross margin declined to 66.0%, with product margin falling to 64.3%. The results show surging AI infrastructure demand alongside downward pressure on margins.

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