Posted 3/1/2024, 3:15:34 PM
Dell Soars to Record High as AI Server Demand Powers Sales and Profit Beat
- Dell reported better-than-expected sales and profit fueled by demand for AI servers
- The company's infrastructure unit, which includes servers, saw revenue growth driven by AI-optimized servers
- Dell stock surged to a record high as investors are excited about the role of servers in AI
- Dell shipped $800 million in AI servers in the quarter, but growth is constrained by limited chip availability
- The company forecasts revenue growth in the "mid-teens" for its infrastructure unit over the next 3 years, fueled by AI