Updated with Cisco closing price. SAN JOSE, Calif. ( TheStreet) -- Cisco's ( CSCO) much-hyped plans to revolutionize the Internet have finally been unveiled with the networking giant announcing its latest router technology. In a webcast on Tuesday, Cisco launched its new CRS-3 router, which the company claims will pave the way to much faster Internet speeds. In separate announcement, AT&T ( T) said that it has already used the CRS-3 in a 100-Gigabit trial.
The Cisco CRS-3 Carrier Routing System
"It's all about the next generation of productivity," said Cisco CEO John Chambers, adding that the CRS-3 offers more than 12 times the capacity of its competitors. "It's the foundation for the next generation Internet." Another Cisco executive explained that the CRS-3 can handle data at 322 terabits a second, compared to 92 terabits a second on the first version of the CRS. "It can deliver all the movies ever made in just four minutes," he said. "The power is absolutely tremendous." Chambers explained that the CRS-3 can handle 1 billion videos at any one time and used the webcast to reiterate his company's video mantra. "Video is the killer app," he said. "Video brings the Internet to life and lets us all participate in a very constructive way." Despite all the marketing hype, Cisco's shares closed down 20 cents on Tuesday at $26.13, but crept up 1 cent, or 0.04%, in extended trading. Cisco -- 2 Stocks in One The networking giant, however, is not the only company looking to push the Internet envelope. Yesterday, for example, Cisco's router rival Juniper ( JNPR) announced that it is working with Verizon ( VZ) to boost network speeds, and had helped the telecom giant complete its own 100-Gigabit trials. Cisco had touted today's announcement as something that would "forever change the Internet" in an email sent out last week, hinting at some form of superfast broadband network. There had been reports in the media that Cisco was working on an ultra-high speed system for Internet access and had been partnering with a number of U.S. service providers on the plan. Broadband is big news at the moment. Search giant Google ( GOOG) recently unveiled its own plans in this space and Washington will unveil its ambitious national broadband plan on March 17.