Dell Reports Record $95B AI Backlog, Drives Stock Surge and Lifts Peers
Dell Technologies (NYSE:DELL) surged nearly 9% in early trading after reporting record results driven by a $95 billion artificial intelligence server backlog. The company raised its full-year revenue guidance to $192 billion, up from previous estimates, with AI server revenue expected to triple this year alone. This performance has reshaped market perceptions of which companies are best positioned to benefit from the AI infrastructure boom. Hewlett Packard Enterprise (NYSE:HPE) climbed 4% on read-across momentum as a close competitor in enterprise hardware, while Super Micro Computer (NASDAQ:SMCI), despite having the purest AI server mix among the three, only gained 1%. The broader tech sector remained flat with mixed performance across key ETFs like IYW and QQQ. Dell's fiscal second-quarter revenue reached $47 billion—up 58% year-over-year—with infrastructure solutions contributing a record $31.8 billion in sales.
Topics: AI infrastructure backlog enterprise hardware revenue growth