Cisco Systems, Inc.
CSCOQ3 2024(CSCO Q4 FY2024)Estimated3.5% AI
AI Revenue %
3.5%
AI Fair Value
$6.3B
AI Revenue (Q)
$484.4M
Total Revenue (Q)
$13.8B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
FY2024 10-K (ended July 27, 2024). Full year total revenue $53.8B. Full year Networking $30.0B, Security $5.1B (Splunk included only from March 2024), Collaboration $4.2B, Observability $0.8B, Services $14.6B. The 10-K has a major 'Harness the Power of AI and Data' section: 'We provide network infrastructure to power AI training and inference workloads for both webscalers and enterprises. We help to scale our customers network infrastructure with high-density routers and switches, improved network management, and high-performance optics.' Also introduces 'AI-Ready Data Centers' concept. MATH: Q4 implied revenue ~$53.8B - $40.2B (9-month) = $13.6B. Q4 Networking implied ~$30.0B - $22.4B = $7.6B. DC networking ~$1.4B. AI-specific ~25% = $350M. Splunk AI ~$60M. Observability AI ~$25M. Webex AI ~$30M. Total ~$465M / $13.6B = ~3.4%. Rounding to 3.5%.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $53.8B for fiscal 2024
10-K FY2024, Consolidated Statements of Operations
Networking revenue $30.0B, Security $5.1B, Collaboration $4.2B, Observability $0.8B
10-K FY2024, Revenue by Product Category
AI represents a generational shift in technology and is driving an order of magnitude higher requirement for network connectivity. We provide network infrastructure to power AI training and inference workloads for both webscalers and enterprises.
10-K FY2024, Item 1 Business - Harness the Power of AI and Data
AI-Ready Data Centers: We are transforming data centers to power AI workloads anywhere
10-K FY2024, Item 1 Business
AI Products Identified (Ring 1)
Nexus 9000 AI fabric switchesSilicon One G200 ASICs400G/800G opticsSplunk AI-powered security/observabilityWebex AI AssistantThousandEyes AI analyticsAI-Ready Infrastructure portfolio
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 routingWirelessTraditional CollaborationTraditional Splunk SIEMServices
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix