Dell Technologies Stock Is Rising Today: What's Going On?
Portfolio Pulse from Adam Eckert
Dell Technologies Inc (NYSE:DELL) shares are trading higher after Elon Musk and Dell CEO Michael Dell announced that Dell is assembling half of the racks for an xAI supercomputer. Super Micro Computer Inc (NASDAQ:SMCI) will also provide servers for the supercomputer. Both companies are increasing server capacity to support AI programs.
June 20, 2024 | 1:29 pm
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POSITIVE IMPACT
Dell Technologies shares are up 5.12% after Elon Musk and Michael Dell announced Dell's involvement in assembling racks for an xAI supercomputer. Dell's AI server revenue more than doubled last quarter, indicating strong demand.
The announcement of Dell's involvement in assembling racks for an xAI supercomputer and the doubling of AI server revenue indicate strong demand and growth potential, positively impacting the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Super Micro Computer Inc shares are also benefiting from the announcement, as the company will provide servers for the xAI supercomputer. This partnership highlights Super Micro's role in the growing AI server market.
Super Micro's involvement in providing servers for the xAI supercomputer underscores its importance in the AI server market, likely boosting investor confidence and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80