Dell Stock Jumps Nearly 10% as AI Backlog Hits $95 Billion
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Dell Stock Jumps Nearly 10% as AI Backlog Hits $95 Billion Khac Phu Nguyen Wed, September 2, 2026 at 11:52 AM EDT 1 min read DELL This article first appeared on GuruFocus . Dell Technologies ( NYSE:DELL ), the AI-server powerhouse, rocketed nearly 10% to $466.43 Wednesday after its booming order book triggered a staggering $25 billion forecast upgrade. The message is loud and clear: Dell does not need to find more AI demand. It needs to deliverfast. Warning! GuruFocus has detected 4 Warning Signs with DELL. Is DELL fairly valued? Test your thesis with our free DCF calculator. The company's fiscal second-quarter results landed with serious force. Revenue soared 58% to $47 billion, AI-server orders hit $60.9 billion and shipments generated $16.4 billion. The backlog swelled to $95 billion, pushing Dell to lift its annual revenue forecast from $167 billion to $192 billion and adjusted earnings guidance from $17.90 to $25.50 per share. That $95 billion backlog is more than twice Dell's quarterly revenue. AI servers already produce roughly 35% of companywide sales, yet Dell returned $4.3 billion to shareholders while generating $2.2 billion in operating cash flow. The valuation picture adds another warning: at $466.43, the stock trades 125.67% above its $206.69 GF Value estimate. The AI machine is roaringbut at this price, execution must be close to flawless.
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