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Dell shares rise 10 amid AI surge
Dell Technologies has raised its earnings and revenue forecasts for 2024, supported by strong demand for AI servers. The company now expects its revenues to reach $192 billion, compared to previous estimates of $167 billion. This comes after robust Q2 results, where revenues surged 58% to $47 billion, with record-breaking orders totaling $60 billion. The growth is attributed to increased investment in AI infrastructure and expanding the use of AI models in data centers, along with rising demand for servers equipped with NVIDIA chips. This outlook bolsters expectations for a promising future for the company. If these trends continue, Dell’s stock price could see significant gains, leading to a substantial increase in its market value, with prospects of sustainable growth in profits and revenues.
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