Cisco Systems (NASDAQ: CSCO) is gearing up to be part of an international consortium building out artificial intelligence (AI) infrastructure, and investors cheered the news. The veteran networking equipment company's shares rose by over 1% that day, a rate that was sufficient to outperform the S 500 index's 0.4% improvement.

Cisco is to be part of a joint venture with chip company AMD and Saudi Arabia-based AI developer Humain that will deploy AI infrastructure in the Middle Eastern country. The operations of this business should begin in 2026, Cisco wrote in a press release.

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Source Fool.com