"Chambers took a similarly meteoric ride in his early days running Cisco, which had a market value of about $15 billion in 1995, when networking equipment suddenly became must-have components for the buildup of the internet. The feverish demand briefly turned the firm into the world's most valuable company - worth $550 billion in March 2000 - before the investment bubble burst. The crash caused Cisco's stock price to plunge more than 80% during a period that Chambers still recalls as the worst of his career."
"While remaining Cisco's chairman emeritus, Chambers is now as fascinated by the AI's transformative powers as he once was by the internet revolution. Only this time he is advising CEOs as a venture capitalist investing in AI startups rather than running a company himself. Chambers, 76, recently discussed the promise and perils of the AI boom with The Associated Press. The interview has been edited for clarity."
John Chambers experienced the internet boom and bust while leading Cisco, which rose from about $15 billion in 1995 to roughly $550 billion in March 2000 before the investment bubble burst. Cisco's stock plunged more than 80% during the crash, a period Chambers calls the worst of his career. Cisco later delivered consistent financial growth and Chambers stepped down as CEO in 2015. Chambers remains Cisco's chairman emeritus and now invests in AI startups as a venture capitalist, advising CEOs. He estimates AI is moving about five times faster and will produce roughly three times the outcomes of the internet age, creating both transformative potential and bubble-like risks.
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