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Dell Hits All-Time High: Annual Forecast Boosted by Artificial Intelligence

 

Dell Hits All-Time High: Annual Forecast Boosted by Artificial Intelligence



Dell technology shares surged as much as


38% Friday morning to an all-time high


following an upbeat annual forecast from


the technology equipment maker it is


benefiting from the artificial


intelligence boom orders for Dell's AI


optimized servers jumped 40%


sequentially in the fourth quarter


according to the company's Chief


Operating Officer who also noted more


customers were demanding PCS and servers


with AI capabilities the huge pop in its


stock provides further evidence that


Rising AI adoption is driving gains


across Enterprise technology vendors and


adds to the frenzy on Wall Street


following nvidia's stunning rally at


least nine brokerages raised their price


Targets on Dell's stock including


analysts at Bernstein who said the


company's AI business showed strong


progress the recent upside in the


business comes after Dell struggled over


the last 2 years as worldwide computer


sales sharply declined Dell said annual


revenue dropped for the first time since


Dell relisted in 2018 those sales fell


less than predicted in the fourth


quarter


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