Ai Platforms
Dell Sees AI Servers Doubling to $50B in 2026
Dell reported some of the strongest AI revenue numbers in the industry last quarter with AI server revenue up 342% YoY to $9.0 billion, orders up 1,906% YoY to a record $34.1 billion and backlog up 177% QoQ to a record $43 billion. This strong AI momentum in Q4 is underpinning Dell’s FY27 guidance for AI server revenue to more than double to $50 billion, which management believes they can achieve while maintaining margins in the mid-single digits. Driven by this AI strength, Dell guided for revenue to accelerate nearly five points to 23.3% YoY to $140 billion, emphasizing that they have the supply to achieve this guide in full for the entire year, despite supply constraints facing the industry, notably in memory. Dell also noted that the demand picture remains robust, and more supply would leave potential for more growth.
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