Nvidia among investors in xAI’s $20 bln capital raise- Bloomberg
Investing.com -- Dell Technologies (NYSE:DELL) stock surged 7% Tuesday morning after the company announced it would raise its expected annual revenue growth target to 7-9%, up from the previous target of 3-4%.
The computer hardware giant also significantly increased its expected annual non-GAAP diluted earnings per share growth target to 15% or better, nearly double the previous target of 8%. Additionally, Dell extended its commitment to grow quarterly dividends by 10% or more annually through fiscal 2030, from the previous commitment that ran through fiscal 2028.
Dell’s Chairman and Chief Executive Officer Michael Dell said, "Customers are hungry for AI and the compute, storage and networking we provide to deploy intelligence at scale. We’re successfully translating that demand into growth and strong cash flow that we’ve largely returned to shareholders."
The company emphasized its position as an AI infrastructure solutions leader, noting its engineering, deployment, services, ecosystem, and financing capabilities. Dell aims to capitalize on the rapid pace of technological change, particularly in artificial intelligence, with its portfolio spanning from data center infrastructure to PCs.
Jeff Clarke, Dell’s vice chairman and chief operating officer, highlighted the company’s progress in the AI sector, stating they’re "growing AI into a $20 billion business in two years."
The company reaffirmed its financial guidance for fiscal 2026 third quarter and full year that was provided on August 28, 2025.