Dell shares surge over 11% as CoreWeave’s strong AI spending outlook lifts demand outlook
Dell Technologies stock jumped more than 11% after its AI‑focused customer CoreWeave reported a higher‑than‑expected quarterly loss and lifted its full‑year revenue guidance, signaling accelerating demand for AI servers. Dell also announced expanded AI Data Platform capabilities in partnership with NVIDIA, Elastic and Starburst. The rally came ahead of Dell’s fiscal third‑quarter earnings release scheduled for November 24.
Why it matters
The price jump reflects investor optimism that Dell’s AI hardware and software offerings will benefit from growing server orders, which could boost future revenue and earnings. Dell also raised its fiscal 2027 revenue forecast to $192 billion, indicating higher expected sales from AI‑related products.
Key facts
- 1Dell stock rose 11.2% to $371.78 in morning trading on November 11. investing.com
- 2CoreWeave reported a narrower adjusted loss for its third quarter and increased its full‑year revenue guidance. investing.com
- 3Dell unveiled new AI Data Platform capabilities, expanding storage, data search and analytics functions. investing.com
- 4CoreWeave increased its 2026 spending plan to $37‑$39 billion and disclosed a $132.5 billion revenue backlog. finance.yahoo.com
- 5Dell’s fiscal Q2 revenue rose 58% to a record $46.97 billion, with AI server revenue of $16.4 billion and AI orders of $60.9 billion. newsbreak.com
- 6Dell raised its fiscal 2027 revenue forecast to $192 billion, up from $167 billion. newsbreak.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.