Cisco Systems has announced that it plans to invest more than $1 billion to expand its cloud business in the next two years, including building an OpenStack-based Intercloud, descrbied as a “network of clouds,” with several partners. The Cisco global Intercloud is being built for the Internet of Everything, with real-time analytics, “near infinite” scalability and full compliance with local data sovereignty laws, according to the company. The Intercloud, which will feature open APIs for application development, will also deliver a new enterprise-class portfolio of cloud IT services for businesses and service providers.

The Internet of Everything has been getting quite a bit of attention lately, with The Linux Foundation also announcing its Allseen Alliance initiative, billed as “the broadest cross-industry consortium to date to advance adoption and innovation in the ‘Internet of Everything’ in homes and industry.” Partners supporting the alliance include some of the world’s leading, consumer electronics manufacturers, home appliances manufacturers, service providers, retailers, enterprise technology companies, innovative startups, and chipset manufacturers.