Cisco is trying to become a bigger player in AI after missing out on the early years of the boom. Cisco reported fiscal first-quarter results on Thursday that beat analyst estimates, with adjusted EPS of $1.40 and revenue of $18.5 billion, up 24% year over year. Cisco exceeded earnings expectations with a 24% revenue increase and forecasts its AI infrastructure revenue to double this fiscal year, driven by demand from hyperscalers.