Dell's AI Earnings Boost Nvidia Stock Over 4%

Nvidia's stock surged over 4% on Wednesday as Dell Technologies reported stronger-than-expected earnings, providing fresh evidence of robust spending on artificial intelligence infrastructure.

Dell's Infrastructure Solutions Group saw an 89% increase in quarterly revenue to $31.78 billion, exceeding the $29.61 billion consensus estimate.

The company also raised its full-year revenue and earnings forecasts for the second time this year, with adjusted earnings-per-share now expected at $25.50, up from $17.90.

Dell's AI server orders reached a record $60.9 billion during the quarter, while its AI-related backlog surged to $95 billion from $51.3 billion in the previous report.