Neural networks require massive amounts of annotated data to train intelligent solutions. Acquiring many labeled data in industrial applications is often difficult; therefore, semi-supervised approaches are preferred. We propose a new semi-supervised co-training method, which combines time and time-frequency (TF) machine learning models to improve performance and reliability. The developed framework collaboratively co-trains fast time-domain models by utilizing high-performing TF techniques without increasing the inference complexity. Besides, it operates in cloud-edge networks and offers holistic support for many applications covering edge-real-time monitoring and cloud-based updates and corrections. Experimental results on bearing fault diagnosis verify the superiority of our technique compared to a competing self-training method. The results from two case studies show that our method outperforms self-training for different noise levels and amounts of available data with accuracy gains reaching from 10.6% to 33.9%. They demonstrate that fusing time-domain and TF-based models offers opportunities for developing high-performance industrial solutions.