Cisco Launches $1.3B AI Fund and Makes First Investments

Cisco launches a $1.3 billion fund for AI startups.

Initial investments include Cohere, Mistral AI, and Scale AI.

Nearly $200 million of the fund is already committed.

Scale AI valued at $14 billion, Cohere and Mistral at $5 billion each.

Foundation AI models developed with large datasets.

AI investment surge inspired by Microsoft-backed OpenAI's ChatGPT.

Over 20 AI acquisitions and investments by Cisco in recent years.

Fund targets generative AI and machine learning advancements.

Other tech giants like Meta and Amazon also investing in AI startups.

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