“Our hyperscaler business continues to show strong momentum with AI infrastructure revenue projected to grow to $9 billion in fiscal year '27, more than double fiscal year '26 levels — we raised the AI guidance to $9 billion [from $7.5 billion], and that figure excludes neocloud customers.”

Resolves when Cisco reports fiscal 2027 results (fiscal year ends July 31, 2027); hyperscaler AI infrastructure revenue was roughly $4 billion in FY26, about 6% of total revenue, and is guided to about 12% in FY27.