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Key News Facts
Cisco Systems (NASDAQ: CSCO) is joining a consortium with AMD and Saudi AI developer Humain to develop AI infrastructure in Saudi Arabia, with operations set to begin in 2026. The project aims to build 1 gigawatt of AI infrastructure by 2030. Cisco’s shares rose over 1% following the announcement, outperforming the S&P 500 index’s 0.4% increase.
This partnership was initially announced in May during former President Trump’s visit to Saudi Arabia and follows Saudi Crown Prince Mohammed bin Salman’s recent trip to the U.S. While Cisco’s press release reflects optimism about the venture, specific financial details were not disclosed.
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