Dell shares hit record high after report, forecasts impress with AI in mix

) rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence and stabilizing demand for computer hardware after a months-long slump.

“Results and guidance corroborated the improving order trends in the broader enterprise vertical” said JPMorgan analyst Samik Chatterjee, in a research note. Dell reported second quarter revenue and EPS above analyst estimates. Servers and networking revenue rose 11% from the first quarter to $4.27 billion, driven by higher demand for AI-optimized servers, Dell said.

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