Dell Technologies is sharply increasing its growth ambitions, citing unstoppable demand for the AI servers that power next-generation computing. The company said Tuesday it expects adjusted earnings per share to climb at least 15% annually over the next four years — nearly double its previous outlook of 8%.
The tech firm, whose customers include Elon Musk’s xAI and AI cloud provider CoreWeave, also raised its long-term revenue growth forecast to between 7% and 9%, up from an earlier range of 3% to 4%.
Fueled by the global race to build AI infrastructure, Dell has become one of the biggest winners of the generative AI wave. “Customers are hungry for AI,” CEO Michael Dell said, adding that the company’s compute, storage, and networking products are essential for deploying intelligence at scale.
Dell reaffirmed its third-quarter and annual projections and maintained its $20 billion AI server shipment goal for fiscal 2026. Analysts noted that Dell’s vast manufacturing scale and supply chain depth give it an edge against rivals such as Super Micro.
The Infrastructure Solutions Group — Dell’s core segment covering servers, storage, and software — is expected to post 11% to 14% annual revenue growth, well above its earlier estimate of 6% to 8%. The PC business, however, remains steady with a 2% to 3% growth outlook amid tough market conditions.
