Dell Surges 27% on AI Server Boom; Anthropic Valued at $965 Billion

Dell Technologies (DELL) shares jumped 27% in after-hours trading on Thursday after the company reported its fastest revenue growth since its 2018 relisting, driven by an 88% surge in AI-related sales. Adjusted earnings per share of $4.86 trounced estimates of $2.94, with revenue reaching $43.84 billion, far above the $35.43 billion forecast. Separately, AI startup Anthropic closed a $65 billion funding round, pushing its valuation to $965 billion, surpassing OpenAI and making it the world’s most valuable AI private company. Broad market sentiment was tempered by inflation concerns. The core PCE price index rose 3.8% in April, its highest since 2023, challenging new Fed Chair Kevin Warsh’s ability to ease policy. Nomura strategist Charlie McElligott warned that a potential US-Iran deal reopening the Strait of Hormuz could paradoxically spark a sharp equity sell-off.