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Silver Lake entities have sold shares of Dell Technologies Inc. (NYSE:DELL) worth approximately $40.3 million, according to a recent SEC filing. The sales occurred on January 7, 2025, with prices per share ranging from $123.45 to $125.5, near Dell's current trading price of $119.31. According to InvestingPro data, Dell's market capitalization stands at $83.45 billion, with the stock showing a remarkable 57% return over the past year. These transactions were carried out by various Silver Lake affiliates, including SL SPV-2, L.P., Silver Lake Partners IV, L.P., and Silver Lake Partners V DE (AIV), L.P.
The sales involved multiple transactions of Dell's Class C Common Stock, with significant volumes being offloaded by Silver Lake's entities. Following these transactions, the shares owned by these entities were significantly reduced, with some holdings being completely divested.
Additionally, on January 8, 2025, Silver Lake entities converted Class B Common Stock into Class C Common Stock, acquiring over 900,000 shares in total, though these transactions were not associated with any cash value as they were conversions.
Silver Lake's involvement in Dell Technologies as a substantial shareholder continues to draw attention from investors, especially given the scale of these transactions.
In other recent news, Dell Technologies has introduced a line of groundbreaking PC monitors and a revamped PC portfolio that integrates artificial intelligence (AI). These recent developments include monitors with enhanced IPS Black technology and QD-OLED panels, and AI-enhanced devices from Intel (NASDAQ:INTC), AMD (NASDAQ:AMD), and Qualcomm (NASDAQ:QCOM) Technologies. The company also launched the Dell Pro AI Studio to facilitate AI adoption. Dell's AI server business has seen rapid expansion, exceeding $10 billion.
On the financial front, Dell reported a 10% increase in third-quarter earnings, reaching $24.4 billion. This growth was primarily driven by the Infrastructure Solutions Group's focus on AI infrastructure and server solutions. Dell's earnings per share rose to $2.15, marking a 14% year-over-year increase.
Bernstein analysts at SocGen Group maintained an Outperform rating on Dell's shares, reflecting confidence in the company's operational strengths. Dell also declared a quarterly cash dividend of $0.445 per common share, following a 20% increase in the company's annual cash dividend.
In other developments, xAI announced plans to expand its Colossus supercomputer facility in Memphis by adding over one million Graphics Processing Units (GPUs). This move, which involves Fortune 500 companies Nvidia (NASDAQ:NVDA), Dell, and Supermicro Computer, underscores Memphis's emerging status as a global hub for AI.
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