Dell Technologies has benefited from soaring demand for AI infrastructure. The company sells servers, GPUs, networking equipment, storage and cooling systems used to power AI data centers. Its Infrastructure Solutions Group reported 181% revenue growth in the latest quarter, helping Dell post a record $43.8 billion in quarterly revenue. Dell shares have climbed about 240% this year, with Michael Dell’s roughly 40% ownership driving most of his personal wealth gains.
Dell has also become more visible in Washington. President Donald Trump has publicly encouraged Americans to buy Dell computers and has hosted Michael and Susan Dell at several White House events. The Dell Family Foundation pledged $6.25 billion to Trump’s investment accounts program for children, while Dell also secured a $10 billion Department of Defense contract earlier this year.
The company has been expanding its AI business while continuing a multiyear restructuring. Over the past three years, Dell has reduced its workforce by about 36,000 employees, leaving it with roughly 97,000 workers. As companies continue investing billions of dollars in AI infrastructure, Dell has become one of the biggest corporate beneficiaries of the boom.