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Dell shares soar as AI server demand, price hikes power stellar quarter
AI server revenue topped PC sales as at least 13 brokerages lifted price targets after Dell posted a blockbuster quarter.
Summary
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.
Dell Technologies’ shares skyrocketed 32% this Friday, after the company reported its biggest revenue growth since its return to the stock market in 2018. Dell, who presented its first quarter results after the market closed on Thursday, experienced a huge demand related to artificial intelligence for its servers, including graphical processing units from companies such as Nvidia, said CNBC. Quarterly revenues increased by almost 88% year-on-yea…