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Dell Technologies’ Record $43.8 Billion Quarter: The AI Demand Surge Explained!

Dell Technologies Inc. reported a strong start to its fiscal year 2027, delivering record revenue of $43.8 billion, an 88% increase year-over-year, and diluted earnings per share (EPS) of $4.86, which grew 214%. This performance was underpinned by robust demand across all business segments, driven particularly by AI infrastructure and continued growth in traditional servers, storage, and commercial PCs. The company’s integrated solutions and broad portfolio, including innovations in AI compute, storage, and networking, contributed to both top-line growth and margin expansion. AI server revenue and orders significantly outpaced expectations, with $16.1 billion recognized in revenue during the quarter and an order backlog of $51.3 billion, up sequentially. AI revenue grew nearly ninefold year-over-year, reflecting strong customer adoption across diverse verticals—including neoclouds, sovereigns, and enterprises—with over 5,000 AI customers.