Cisco Systems, Inc.
CSCOQ1 2024(CSCO Q2 FY2024)Estimated2% AI
AI Revenue %
2%
AI Fair Value
$3.1B
AI Revenue (Q)
$254.0M
Total Revenue (Q)
$12.7B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q2 FY2024 10-Q (ended Jan 27, 2024). Total revenue $12.791B (down YoY due to customer inventory digestion). Networking $7.081B (6-month: $15.904B implies Q2 = $7.082B). Security $0.973B, Collaboration $0.989B, Observability $0.188B. Services $3.559B. Splunk acquisition announced but not yet closed (closed March 2024). Networking revenue declined as enterprise customers digested backlogs. However, AI infrastructure spending by hyperscalers remained strong. MATH: Networking $7.081B. DC networking ~$1.2B for the quarter. AI-specific ~15% = ~$180M. Observability AI ~$15M. Total ~$195M / $12.791B = ~1.5%. However, AI fabric demand was growing; conservative estimate at 2.0% given Cisco's commentary about AI as 'generational shift.'
Analyzed by claude-opus-4-6
Quoted Figures
Networking $7,081M (Q2), $15,904M (H1)
10-Q Q2 FY2024, Revenue Disaggregation
Total revenue $12,791M
10-Q Q2 FY2024, Consolidated Statements of Operations
We provide network infrastructure to power AI training and inference workloads for both webscalers and enterprises
10-K FY2024, Item 1 Business
AI Products Identified (Ring 1)
Nexus 9000 AI fabric switchesSilicon One G200 ASICs400G/800G optics
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Campus switchingEnterprise routingWirelessCollaborationSecurity
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix