11:57 AM EDT, 06/04/2024 (MT Newswires) -- Cisco Systems' ( CSCO ) corporate venture investment arm Cisco Investments said Tuesday it has launched a $1 billion artificial intelligence investment fund to boost the startup ecosystem and broaden the development of safe and reliable AI solutions.

As part of the new AI fund, Cisco ( CSCO ) said it will make strategic investments in Cohere, Mistral AI and Scale AI among others.

Around $200 million of the $1 billion investment fund has already been committed, the company said.

Price: 46.76, Change: +0.11, Percent Change: +0.23