DELL
New highs, same old appetite for AI
Dell Technologies just did the thing public companies love most: it beat estimates, raised guidance, and gave investors another excuse to chase the stock. Shares hit fresh all-time highs after the company said Q2 revenue and EPS came in ahead of expectations, with the AI server business and backlog both setting records.
The numbers that made Wall Street sit up
This wasn’t just a nice little earnings beat. Dell said its infrastructure solutions group, AI-optimized servers, traditional servers and networking, and commercial client business all hit record quarterly revenue. The headline grabber: AI server orders reached a record $60.9 billion in the quarter, while backlog ended at a record $95 billion.
Why investors care
That combo — record demand plus better-than-expected guidance for Q3 — is basically rocket fuel for a stock that’s already up more than 300% year-to-date. It also explains why Michael Dell’s net worth keeps doing its own victory lap, though the real story for shareholders is simpler: Dell keeps showing that the AI buildout is still gobbling up hardware like it’s Black Friday for data centers.
Big picture
The market has been obsessed with AI software dreams, but Dell is selling the picks and shovels. And right now, those shovels are apparently made of gold.