Dell stock skyrockets 32%, heads for best day ever as AI server revenue soars
Dell Technologies experienced a significant surge in its stock price, rising 32% in a single day. This increase follows the company's report of impressive revenue growth, driven largely by demand for AI-related servers. The quarterly revenue saw an 88% year-over-year increase, with AI server revenue skyrocketing by 757%.
- ▪Dell's stock rose 32% after reporting strong earnings.
- ▪The company experienced its fastest revenue growth since going public in 2018.
- ▪AI server revenue increased by 757% year over year, reaching $16.1 billion.
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Shares of Dell Technologies skyrocketed 32% on Friday after the company reported its fastest pace for revenue growth for any period since returning to the public market in 2018. The stock is pacing for its best day ever.Dell, which reported first-quarter earnings after the bell on Thursday, saw a flood of artificial intelligence-related demand for its servers, which contain graphics processing units from companies like Nvidia. Quarterly revenue soared nearly 88% year over year, with AI server revenue alone increasing 757% from a year earlier to $16.1 billion. Adjusted earnings per share came in at $4.86, beating expectations of $2.94.
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