Posted 3/1/2024, 4:39:00 PM
Dell Sees AI Server Demand Soar Despite Overall Sales Slump
- Dell's share price jumped 16% due to increased orders for AI-optimized servers, despite declining overall sales
- Dell's backlog for AI servers nearly doubled to $2.9 billion
- Dell shipped $800 million in AI servers last quarter
- Revenue declined 11% for the quarter and 14% for the year, but earnings per share increased
- Dell is positioning itself in high-growth AI market with strong server demand, though long-term AI action will be on-premises