Dell Technologies shares jumped about 11% on Wednesday, Sept. 2, 2026, after the company reported a blowout fiscal second-quarter result and raised its full-year outlook on surging demand for AI-optimized servers, according to a Reuters report carried by WSAU and contemporaneous market coverage.

Second-quarter revenue rose 58% year over year to a record about $47 billion, beating Wall Street estimates near $44.9 billion. Non-GAAP diluted earnings came in at $7.04 a share, more than triple the year-ago figure and well above the roughly $4.91 consensus. AI-optimized server revenue hit about $16.4 billion; Dell booked a record roughly $60.9 billion in AI server orders in the quarter and exited with a record about $95 billion AI server backlog.

Management raised fiscal 2027 revenue guidance to about $192 billion from roughly $167 billion previously, and lifted its adjusted EPS target to $25.50 from $17.90. Analysts at J.P. Morgan said the "AI momentum spoke for itself," pointing to the order and backlog figures. Melius Research highlighted storage strength as AI drives Dell's higher-margin businesses. Peer AI server names such as Super Micro and Hewlett Packard Enterprise also traded higher on the read-through.

Hyperscalers and AI cloud builders are still racing to lock in GPU-rich racks faster than the supply chain can fully clear DRAM, NAND, and data-center power constraints. That is good for Dell's near-term backlog — and a reminder that this boom runs through a handful of vendors, Nvidia silicon, and capital budgets that can reverse if model ROI disappoints. For now, the tape is treating Dell as confirmation that AI infrastructure spend is not done.

Sources