Dell shares surge 39% as AI-driven server demand fuels record revenue growth since 2018 return to public markets
By
Jordan Novet
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Summary
Dell reported its fastest revenue growth since returning to the public market in 2018, with revenue soaring nearly 88% year-over-year. The stock jumped as much as 39% in extended trading after the company topped analysts' estimates for both sales and profit. The growth is driven by Dell's transformation from a legacy tech company into a major AI server assembler, packing servers with graphics processing units (GPUs).
Key quotes
· 3 pulledRevenue soared nearly 88% year over year for the quarter, which ended on May 1, according to a company statement.
Since its IPO in 2018, which came five years after the server maker was taken private, year-over-year growth has never exceeded 39%, a mark that was hit in the January period.
Dell has gone from being a sleepy legacy tech company to a high-growth AI story, assembling servers packed with graphics processing units.
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