The valuations of some private companies are "going nuts again," returning to highs not seen since the Covid-19 pandemic, according to Cisco's chief executive.
Chuck Robbins told CNBC Tuesday that businesses focused on new technologies like artificial intelligence were garnering price tags akin to those seen during the era of low interest rates.
"When you get into gen [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.
Robbins said that it was "ironic" that the cycle had recurred so soon after higher interest rates had put an end to the era of easy money and seemingly corrected sometimes overinflated valuations.
"It is ironic to me that we're so quickly doing this after what we experienced 48 months ago.
Persons:
Chuck Robbins, Robbins
Organizations:
CNBC, Economic
Locations:
Davos, Switzerland