Cisco Systems CSCO-Q raised its annual revenue forecast on Wednesday, betting on higher demand for its cloud networking gear amid an artificial intelligence boom, sending its shares up nearly 7 per cent in extended trading. Corporate customers have been investing heavily to build their AI infrastructure, boosting demand for data centers, which use Cisco’s products such as ethernet switches and routers. “Cisco’s solid forecast should lift its share price and be a boost in the arm for AI and technology companies in general,” said Michael Ashley Schulman, chief investment officer at Running Point Capital. Earlier this week, Cisco partnered with...