AI Boom and Oil Price Surge Fuel Record Highs for DELL, CRWD, CVX
Dell Technologies Inc. (DELL), CrowdStrike Holdings Inc. (CRWD), and Chevron Corp. (CVX) saw significant gains on Tuesday, with their shares reaching new 52-week highs.
The companies' performances were driven by various factors, including the growing demand for artificial intelligence infrastructure growth. Dell's CFO David Kennedy highlighted the durability of the company's AI infrastructure growth at Citi's TMT conference, which helped boost investor confidence in the stock.
CrowdStrike benefited from renewed concerns about the risks tied to rapidly expanding AI systems, which bolstered software stocks higher. The company now has more than 6,500 enterprise AI customers, up over 60% in six months, according to Kennedy.
Chevron's shares jumped amid surging oil prices due to the ongoing conflict in the Middle East. Brent crude futures expiring in November were trading at $107.68 a barrel, while WTI crude futures expiring in October were trading at $104.49 per barrel.