On May 22, Cisco Systems, Inc. (NASDAQ:CSCO) announced it would join technology giants, including Nvidia, OpenAI, and Oracle, to build a sweeping AI campus in the UAE under the Stargate project announced during President Trump’s recent visit to the country. The project aims to build the largest set of AI data centers outside the U.S. at a 10-square-mile site in the UAE’s capital, Abu Dhabi. The first phase of the project is expected to begin operations in 2026.Cisco Systems, Inc. (CSCO) joins Stargate UAE consortium to build AI data center Engineers using the latest Cisco TelePresence technology to collaborate with colleagues around the world. Under the Memorandum of Understanding (MoU) signed on Thursday, Cisco Systems, Inc. (NASDAQ:CSCO) will provide connectivity infrastructure to accelerate the deployment of next-gen AI compute clusters. The agreement complements the company’s recently announced AI initiatives in the region. The Stargate MoU follows CEO Chuck Robbins’s recent visits to Bahrain, Qatar, and Saudi Arabia, where Cisco Systems, Inc. (NASDAQ:CSCO) announced a series of strategic projects covering all phases of AI transformation in the Middle East. Chuck Robbins shared the following remarks upon joining the Stargate initiative: "With the right infrastructure in place, AI can transform data into insights that empower every organization to innovate faster, tackle complex challenges, and deliver tangible outcomes. Cisco is proud to join this consortium to harness the power of AI and deliver the infrastructure that will enable tomorrow's breakthroughs." While we acknowledge the potential of CSCO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CSCO and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now. Disclosure: None. View Comments
Cisco Systems, Inc. (CSCO) Joins Stargate UAE Consortium to Build AI Data Center
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