Cisco Systems Inc. is reportedly looking at making a big investment in CoreWeave, one of the hotter artificial-intelligence startup companies, as the networking giant seeks to get a stronger foothold in the AI data center.

Cisco Systems is set to invest in Coreweave, valuing the cloud services provider at $23 billion, according to a Bloomberg News report on Thursday, citing people familiar with the matter.

As part of this AI fund, Cisco has already made strategic investments in several AI-focused companies, including Mistral AI, Cohere, and Scale AI. "Cisco to invest in CoreWeave at $23bn valuation" was originally created and published by Verdict, a GlobalData owned brand.

Cisco Systems is reportedly investing in cloud AI upstart CoreWeave, an emerging player that's currently valued at $23 billion. CoreWeave is a cloud computing provider that’s among the hottest companies in the AI arena. The startup is heavily backed by Nvidia and private equity firms.