Pre-market trading sees a significant (> 20%) surge in Dell's (
DELL) shares on Friday 1st March 2024, marking its most significant gain since September 1st, 2023. Over the past year, Dell's stock has more than doubled, reflecting investor enthusiasm regarding the pivotal role of servers in an AI-driven purchasing cycle.
This follows the release of its quarterly earnings report, which surpassed sales and profit expectations. The surge is fueled by heightened demand for information technology equipment, particularly servers tailored for artificial intelligence (AI) applications.
Renowned for its PC business, Dell has garnered attention from investors due to a surge in demand for its high-performance servers essential for running AI workloads. In the fiscal fourth quarter, the company's infrastructure unit, encompassing servers, reported revenue of $9 ...
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