Cisco said it is cutting nearly 4,000 jobs, or less than 5% of its workforce, as it reallocates spending toward higher-growth areas including artificial intelligence, silicon, optics, security, and internal AI applications. The restructuring is expected to generate up to $1 billion in pretax charges, with about $450 million recognized in the current quarter. Cisco shares rose to a record high following the announcement, and Chief Executive Officer Chuck Robbins said the company will invest strategically in chips, optics, security, and AI-related initiatives.