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World Economic Forum (WEF) 2024

16 Mins Ago

Private company valuations are ‘going nuts again,’ Cisco CEO says

Cisco CEO Chuck Robbins participates at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2023.

Hollie Adams | Bloomberg | Getty Images

The valuations of some private companies are ‘going nuts again,’ according to Cisco’s chief executive.

Chuck Robbins said the valuations for companies focusing on new technologies, such as artificial intelligence (AI), had returned to the heyday seen during the low interest rate environment of the pandemic.

“When you get into [generative] AI and some of these other things, we are seeing some of the private valuations are going nuts again,” he said during a CNBC-moderated panel event at the World Economic Forum in Davos, Switzerland.

“It is ironic to me that we’re so quickly doing this after what we experienced 48 months ago. It’s just incredible,” he said.

— Karen…

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