Dell Surges Over 10% Pre-Market as AI Server Demand Booms, Raises Full-Year Revenue Guidance to $192 Billion

TradingKey - On September 2, Dell Technologies (DELL) surged over 10% in U.S. premarket trading after the company's latest second-quarter fiscal 2027 results significantly exceeded market expectations and it sharply raised its full-year revenue guidance, further reinforcing market expectations of sustained strong AI server demand.

Source: TradingView

Data showed that Dell's Q2 revenue reached $47 billion, up 58% year-over-year and above the market expectation of $44.8 billion; non-GAAP EPS was $7.04, surging 203% year-over-year and far exceeding the market expectation of $4.90. The AI business remained the largest growth engine this quarter, with AI server orders hitting a record quarterly high of $60.9 billion and bringing the related backlog to $95 billion by the end of the quarter.

Driven by order growth, Dell further raised its full-year guidance. The company now expects revenue for the fiscal year ending January 2027 to be approximately $192 billion, representing a $25 billion upward revision from its previous forecast of $167 billion given in May this year, also significantly higher than the market average expectation of $173.8 billion. Of this, AI servers are expected to contribute about $74 billion in revenue, implying substantial growth for the business compared to the previous fiscal year.

This marks the fifth consecutive quarter that Dell has delivered full-year revenue guidance above market expectations. The sharp upward revision of its financial targets also demonstrates that server demand continues to unlock rapidly as enterprises steadily scale up their AI infrastructure spending.