Cisco Systems, Inc.
CSCOQ3 2023(CSCO Q4 FY2023)Estimated1.5% AI
AI Revenue %
1.5%
AI Fair Value
$2.2B
AI Revenue (Q)
$220.0M
Total Revenue (Q)
$14.7B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
FY2023 10-K (ended July 29, 2023). Full year total revenue $57.0B. New product categorization introduced in FY2024 filings retroactively shows Networking ~$34.1B (FY2023 full year implied). No AI-specific revenue disclosed, but the 10-K for FY2023 includes new strategic language about 'Transform Infrastructure' and mentions data center modernization. AI infrastructure demand from hyperscalers was beginning to emerge in calendar H2 2023. MATH: Full year Secure Agile Networks ~$28B. Data center switching ~$5B annually. AI-specific portion growing to ~12% = ~$600M annual, or ~$175M for Q4. Q4 total revenue ~$14.7B (implied from 9-month YTD). $175M / $14.7B = ~1.2%. Rounding up slightly to 1.5% given growing AI fabric demand from hyperscalers deploying GPU clusters.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue for fiscal 2023 was approximately $57.0 billion
10-K FY2023, Consolidated Statements of Operations
Products categorized as Secure, Agile Networks; Internet for the Future; Collaboration; End-to-End Security; Optimized Application Experiences
10-K FY2023, Revenue by Product Category
AI Products Identified (Ring 1)
Nexus 9000 data center switchesSilicon One ASICs400G 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