Abu dhabi: Cisco Systems, a developer and manufacturer of networking equipment, has predicted strong quarterly revenue amid increasing demand for networking equipment.

According to Emirates News Agency, the company topped revenue forecasts by 0.7% last quarter, reporting $14.15 billion-a remarkable 11.4% year-over-year increase. While Cisco surpassed analysts’ EPS estimates for the upcoming quarter, its billings matched expectations.

The networking and AI infrastructure markets are becoming fiercely competitive, with tech giants and agile startups battling for market share. Cisco’s ability to maintain its leadership in networking and simultaneously emerge as a significant player in AI infrastructure remains uncertain.

Meanwhile, Alphabet’s Google announced plans to invest an additional $9 billion in Oklahoma over the next two years to expand its cloud and AI infrastructure.