[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"article-5-reasons-dell-could-win-ai-infrastructure-2026-en":3,"article-related-5-reasons-dell-could-win-ai-infrastructure-2026-en":36,"series-industry-ab9d3fa0-70ed-4e02-816e-d782ec00a6fb":88},{"id":4,"slug":5,"title":6,"content":7,"summary":8,"source":9,"source_url":10,"author":11,"image_url":12,"cover_image":12,"category":13,"language":14,"translated_content":11,"related_article_id":15,"keywords":16,"key_takeaways":27,"views":32,"created_at":33,"published_at":34,"topic_cluster_id":35},"ab9d3fa0-70ed-4e02-816e-d782ec00a6fb","5-reasons-dell-could-win-ai-infrastructure-2026-en","5 reasons Dell could win AI infrastructure in 2026","\u003Cp data-speakable=\"summary\">Dell could be the biggest \u003Ca href=\"\u002Ftag\u002Fai-infrastructure\">AI infrastructure\u003C\u002Fa> winner of 2026 because its server business is scaling fast.\u003C\u002Fp>\u003Cp>Investors looking past the chipmakers get a useful read here: five reasons Dell Technologies may be the AI infrastructure stock to watch in 2026, backed by one standout number — a $51.3 billion AI server backlog.\u003C\u002Fp>\u003Ctable>\u003Cthead>\u003Ctr>\u003Cth>Item\u003C\u002Fth>\u003Cth>Latest figure\u003C\u002Fth>\u003Cth>Why it matters\u003C\u002Fth>\u003C\u002Ftr>\u003C\u002Fthead>\u003Ctbody>\u003Ctr>\u003Ctd>Dell revenue growth\u003C\u002Ftd>\u003Ctd>+88% year over year\u003C\u002Ftd>\u003Ctd>Shows AI server demand is already moving the top line\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Dell AI server backlog\u003C\u002Ftd>\u003Ctd>$51.3 billion\u003C\u002Ftd>\u003Ctd>Signals demand is ahead of supply\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Dell AI server orders\u003C\u002Ftd>\u003Ctd>$24.4 billion\u003C\u002Ftd>\u003Ctd>New orders exceeded shipments last quarter\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Dell AI server revenue outlook\u003C\u002Ftd>\u003Ctd>$60 billion in fiscal 2027\u003C\u002Ftd>\u003Ctd>Management expects a major step-up from fiscal 2026\u003C\u002Ftd>\u003C\u002Ftr>\u003Ctr>\u003Ctd>Dell valuation\u003C\u002Ftd>\u003Ctd>2.3x sales\u003C\u002Ftd>\u003Ctd>Leaves room for multiple expansion if growth holds\u003C\u002Ftd>\u003C\u002Ftr>\u003C\u002Ftbody>\u003C\u002Ftable>\u003Ch2>1. AI server demand is driving real revenue\u003C\u002Fh2>\u003Cp>Dell’s latest quarter showed that AI infrastructure is no longer a side story. Revenue rose 88% year over year to a record $43.8 billion, and non-GAAP earnings climbed to $4.86 per share, far above the $2.99 analysts expected.\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780882366034-05ep.png\" alt=\"5 reasons Dell could win AI infrastructure in 2026\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>That matters because the growth is coming from a business Dell can scale: AI-optimized servers. Unlike a pure chip play, Dell sells the systems that package the chips, memory, storage, and networking into data-center-ready machines.\u003C\u002Fp>\u003Cul>\u003Cli>Revenue: $43.8 billion\u003C\u002Fli>\u003Cli>Non-GAAP EPS: $4.86\u003C\u002Fli>\u003Cli>Year-over-year revenue growth: 88%\u003C\u002Fli>\u003Cli>Quarter end: May 1, fiscal 2027 first quarter\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>2. Its customer base is broad and still expanding\u003C\u002Fh2>\u003Cp>Dell said it now builds AI servers for more than 5,000 customers, including sovereign clients, neocloud providers, and enterprises. That is a wide funnel, and it includes names that need serious compute capacity, such as \u003Ca href=\"\u002Ftag\u002Fopenai\">OpenAI\u003C\u002Fa>, Palantir Technologies, CrowdStrike, \u003Ca href=\"\u002Ftag\u002Fgoogle-cloud\">Google Cloud\u003C\u002Fa>, and SpaceX.\u003C\u002Fp>\u003Cp>The breadth matters because it reduces dependence on one buyer or one AI model cycle. Dell also said its AI customer base grew by more than 50% in just six months, which suggests the demand curve is still moving higher.\u003C\u002Fp>\u003Cul>\u003Cli>More than 5,000 AI server customers\u003C\u002Fli>\u003Cli>Customer base up over 50% in six months\u003C\u002Fli>\u003Cli>Includes sovereign clients and neocloud providers\u003C\u002Fli>\u003Cli>Works with major AI and enterprise names\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>3. Orders are outrunning shipments\u003C\u002Fh2>\u003Cp>One of the clearest signs of momentum is Dell’s order book. The company booked $24.4 billion in new AI server orders last quarter, while shipping $16.6 billion in AI servers. In plain terms, demand outpaced delivery.\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780882365259-84p0.png\" alt=\"5 reasons Dell could win AI infrastructure in 2026\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>That gap helped Dell end the quarter with a $51.3 billion AI server backlog. Management also said demand has been exceeding supply, which points to a business that is still ramping rather than cooling off.\u003C\u002Fp>\u003Ccode>New AI server orders: $24.4B\nAI server shipments: $16.6B\nAI server backlog: $51.3B\u003C\u002Fcode>\u003Ch2>4. The growth outlook is getting bigger\u003C\u002Fh2>\u003Cp>Dell raised its fiscal 2027 revenue guidance to $167 billion, up from a prior estimate of $140 billion. It also expects $60 billion in AI server revenue this year, compared with $25 billion in fiscal 2026. That is a major jump in just one year.\u003C\u002Fp>\u003Cp>The broader market backdrop helps too. Fortune Business Insights projects the AI server market will grow at a 35% annual rate from 2026 through 2034, reaching $2.85 trillion by the end of that period. Dell is growing faster than the market, which usually means share gains.\u003C\u002Fp>\u003Cul>\u003Cli>Fiscal 2027 revenue guide: $167 billion\u003C\u002Fli>\u003Cli>Prior guide: $140 billion\u003C\u002Fli>\u003Cli>AI server revenue expected: $60 billion\u003C\u002Fli>\u003Cli>AI server revenue in fiscal 2026: $25 billion\u003C\u002Fli>\u003Cli>Forecast market growth: 35% annually through 2034\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>5. The stock is still priced like a value name\u003C\u002Fh2>\u003Cp>Despite the growth, Dell trades at just 2.3 times sales. That is well below the Nasdaq Composite’s 5.6 times sales multiple, and it is also cheaper than both \u003Ca href=\"\u002Ftag\u002Fnvidia\">Nvidia\u003C\u002Fa> and Micron. For a company forecasting 47% revenue growth this year, that valuation looks unusually restrained.\u003C\u002Fp>\u003Cp>If Dell were to trade at the Nasdaq’s sales multiple by the end of the fiscal year, its market cap could rise to about $935 billion, more than three times the current level. That does not guarantee the stock will get there, but it shows how much room exists if execution stays strong.\u003C\u002Fp>\u003Cul>\u003Cli>Current valuation: 2.3x sales\u003C\u002Fli>\u003Cli>Nasdaq Composite: 5.6x sales\u003C\u002Fli>\u003Cli>Expected revenue growth this year: 47%\u003C\u002Fli>\u003Cli>Illustrative market cap at Nasdaq multiple: $935 billion\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>How to decide\u003C\u002Fh2>\u003Cp>If you want the highest direct exposure to AI chips, Nvidia and Micron still belong on the short list. But if you want a company selling the systems that make AI data centers run, Dell may be the cleaner way to play the buildout.\u003C\u002Fp>\u003Cp>For investors who want faster growth with a lower sales multiple, Dell is the most interesting pick here. For those who prefer the more established chip leaders, Nvidia and Micron still offer strong exposure, but Dell may have more room for the market to catch up to its growth.\u003C\u002Fp>","5 reasons Dell may outpace Nvidia and Micron in 2026, from AI server orders to a $51.3 billion backlog and cheap valuation.","www.fool.com","https:\u002F\u002Fwww.fool.com\u002Finvesting\u002F2026\u002F06\u002F03\u002Fnot-nvidia-not-micron-this-underrated-artificial-i\u002F",null,"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780882366034-05ep.png","industry","en","da4f6e58-3c75-4e91-8538-c1aee3a7c2e4",[17,18,19,20,21,22,23,24,25,26],"Dell Technologies","AI infrastructure","AI servers","Nvidia","Micron","data centers","valuation","backlog","earnings","growth stocks",[28,29,30,31],"Dell’s AI server business is driving rapid revenue and earnings growth.","A $51.3 billion backlog suggests demand is still ahead of supply.","The stock looks cheap at 2.3x sales relative to its growth.","Dell may offer broader AI infrastructure exposure than chipmakers alone.",0,"2026-06-08T01:32:23.034981+00:00","2026-06-08T01:32:23.026+00:00","a1c158f8-b98b-4d99-aa84-35523d1f1876",{"tags":37,"relatedLang":48,"relatedPosts":52},[38,40,42,44,46],{"name":20,"slug":39},"nvidia",{"name":19,"slug":41},"ai-servers",{"name":17,"slug":43},"dell-technologies",{"name":18,"slug":45},"ai-infrastructure",{"name":21,"slug":47},"micron",{"id":15,"slug":49,"title":50,"language":51},"5-reasons-dell-could-win-ai-infrastructure-2026-zh","5 個 Dell AI 基礎設施勝出的理由","zh",[53,58,64,70,76,82],{"id":54,"slug":55,"title":56,"cover_image":11,"image_url":11,"created_at":57,"category":13},"330093c1-3449-498e-8c95-229dd56fd357","ai-weekly-2026-w24-en","AI Weekly: 2026-06-01 ~ 2026-06-08","2026-06-08T04:00:27.811101+00:00",{"id":59,"slug":60,"title":61,"cover_image":62,"image_url":62,"created_at":63,"category":13},"d832d568-dd0c-4815-9ca6-0548619e9c3d","open-source-dev-tools-2026-en","12 open source dev tools that matter in 2026","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780890492686-vpy2.png","2026-06-08T03:47:37.474275+00:00",{"id":65,"slug":66,"title":67,"cover_image":68,"image_url":68,"created_at":69,"category":13},"9e52842f-ed91-43e8-b4b8-c860109f406b","rust-196-latest-release-endoflife-date-en","Rust 1.96 is now the latest 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plan","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780881472963-hcrh.png","2026-06-08T01:17:23.135645+00:00",{"id":83,"slug":84,"title":85,"cover_image":86,"image_url":86,"created_at":87,"category":13},"e88f49d8-3f4c-443a-a8b2-4d05608ed9d3","why-openclaw-lakehouse-should-meet-in-chat-en","Why OpenClaw and Lakehouse should meet in chat","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780876967303-60w3.png","2026-06-08T00:02:18.810307+00:00",[89,94,99,104,109,114,119,124,129,134],{"id":90,"slug":91,"title":92,"created_at":93},"d35a1bd9-e709-412e-a2df-392df1dc572a","ai-impact-2026-developments-market-en","AI's Impact in 2026: Key Developments and Market Shifts","2026-03-25T16:20:33.205823+00:00",{"id":95,"slug":96,"title":97,"created_at":98},"5ed27921-5fd6-492e-8c59-78393bf37710","trumps-ai-legislative-framework-en","Trump's AI Legislative 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