Cisco took $4 billion in AI infrastructure orders from hyperscalers in the fourth quarter of its fiscal 2026, the company reported on August 12, 2026. The figure caps a year in which demand for the networking gear that connects GPU clusters more than tripled from what Cisco expected nine months earlier.
The orders landed inside a quarterly earnings release that otherwise reads like a best case for a legacy networking vendor. Revenue reached $17.3 billion, up 18 percent year over year. Product orders rose 35 percent, and networking product orders climbed 40 percent for an eighth straight quarter of double-digit growth. Networking revenue alone was $9.8 billion, up 28 percent.
For the full fiscal year, which ended July 25, Cisco posted revenue of $63.3 billion, up 12 percent, with non-GAAP earnings of $4.33 per share. It guided fiscal 2027 revenue to between $72.2 billion and $73.4 billion, a midpoint implying roughly 15 percent growth, and told investors to expect about $7.5 billion in AI infrastructure revenue from hyperscalers in the year ahead, against roughly $4 billion delivered in fiscal 2026.
The number that matters for the broader AI buildout is where the hyperscaler capital spending is actually landing. Cisco's networking revenue is one of the clearest public reads on how much of that spending flows into the switching and routing layer that links accelerators together, rather than into the chips themselves. Cisco called the demand a networking supercycle, and its own trajectory backs the phrasing. In its first-quarter report on November 12, 2025, the company disclosed $1.3 billion in hyperscaler AI orders and guided toward about $3 billion for the full year. Nine months later, it booked $4 billion in a single quarter.
Chuck Robbins, Cisco's chair and chief executive, said the company was well positioned to support customers however or wherever they decide to deploy AI.
