Shares of cloud and client computing firm Dell Technologies DELL.N rise nearly 10% to $467.04 premarket
The company on Tuesday boosted its annual revenue forecast by $25 billion and raised its profit outlook again, driven by strong AI server demand
J.P. Morgan says recent results and guidance support stronger medium-term growth, driven by AI, infrastructure upgrades and rising long-term customer commitments
The servers, equipped with Nvidia's NVDA.O chips, are sought by clients including AI cloud providers Nscale and CoreWeave CRWV.O to build computing clusters for training and running AI models
Melius Research sees no reason Dell's Infrastructure Solutions Group (ISG) cannot grow at a pace similar to Nvidia's expected 70% revenue growth
The company posted Q2 revenue of $47 billion; analysts on average expected $44.92 billion, as per data compiled by LSEG
As of the last close, DELL is up about 237.3% this year
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