Dell Shares Surge 9.5% as Record AI Server Demand Fuels Rally

Dell Technologies (NYSE:DELL) shares rose 9.5% on June 2, 2026, extending a post-earnings rally after the company reported blockbuster fiscal first-quarter results driven by explosive demand for its artificial intelligence servers. Revenue for the quarter ended May 1 surged 88% year-over-year to $43.8 billion, far exceeding Wall Street’s $35.4 billion estimate. AI-optimized server sales soared 757% to $16.1 billion, lifting the Infrastructure Solutions Group revenue 181% to $29 billion. Dell booked $24.4 billion in new AI orders and ended the quarter with a record $51.3 billion AI server backlog. Non-GAAP earnings per share of $4.86 trounced the $2.93 consensus. The company raised its full-year fiscal 2027 revenue guidance to a midpoint of $167 billion, up from $140 billion, and reset AI server revenue target to $60 billion, a 144% jump from the prior year. The stock has climbed 261% year-to-date, hitting a new 52-week high of $461.66.