Dell Shares Jump 14% After Record Q2 Revenue, Higher AI Server Forecast

Dell Technologies shares jumped 14% in intraday trade on Wednesday, September 2, after the company reported record second-quarter revenue and raised its annual sales forecast on strong demand for artificial intelligence servers.

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The stock climbed to $484 during the session, according to Mint. Dell shares have more than tripled in 2026 as technology companies and data-centre operators increased spending on computing infrastructure for AI workloads.

Revenue Rises 58%

Dell’s second-quarter revenue increased 58% from a year earlier to a record $47 billion, according to the company’s earnings release cited by Mint. The figure exceeded Wall Street’s estimate of $44.92 billion.

Adjusted profit rose to $7.04 per share from $2.30 in the corresponding quarter last year, an increase of 203%. Dell also returned a record $4.3 billion to shareholders during the quarter, the company said.

AI Server Orders Surge

Revenue from Dell’s Infrastructure Solutions Group rose 89% to $16.4 billion. The division includes servers, storage products and related software, according to the company’s results reported by Mint.

Dell booked a record $60.9 billion in AI server orders during the quarter and recognised $16.4 billion in AI server revenue. The company ended the period with an AI server backlog of $95 billion, chief operating officer Jeff Clarke said in a statement cited by Mint.

The company has been securing orders for systems powered by Nvidia’s AI chips. Demand for conventional servers has also increased as customers upgrade their computing infrastructure.

Sales from traditional servers and networking more than doubled to $10.5 billion, according to Dell’s earnings release. These systems use central processing units that can handle tasks linked to AI agents and other business applications.

Dell Raises Forecast

Dell now expects revenue from AI-optimised servers to reach $74 billion in fiscal 2027, up from its previous forecast of $60 billion, according to the company’s revised outlook reported by Mint.

The company also raised its full-year revenue forecast to about $192 billion for the financial year ending January 2027. Its earlier outlook, issued in May, had projected revenue of around $167 billion.

The upgrade followed another increase in May, when Dell lifted its AI server revenue forecast from $50 billion to $60 billion and raised its annual revenue guidance to between $165 billion and $169 billion, Reuters reported at the time.

Other Server Stocks Gain

Dell’s results lifted shares of other companies supplying equipment for AI data centres.

Hewlett Packard Enterprise shares rose 5.4%, while Super Micro Computer gained 0.7%, according to Mint. Both companies compete with Dell in the market for servers and related infrastructure.