Unveiling the AI Pioneer: Michael Dell and Dell Technologies (NYSE:DELL) Unveiling the AI Pioneer: Michael Dell and Dell Technologies (NYSE:DELL)

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By Ronald Tech


Jim Cramer, the host of CNBC’s “Mad Money,” has lauded Michael Dell, the CEO of Dell Technologies, Inc. DELL, for his role in advancing artificial intelligence, following the company’s impressive fourth-quarter results.

What Led to this Accolade: Cramer took to X, formerly known as Twitter, to express his admiration for Dell’s AI leadership. He shared a 2021 tweet by Michael Dell, in which the CEO reflected on the company’s remarkable growth over the years.

“This is the man who is taking AI to the next level!”

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“Our strong AI-optimized server momentum continues, with orders increasing nearly 40% sequentially and backlog nearly doubling, exiting our fiscal year at $2.9 billion,” said Jeff Clarke, COO of Dell Technologies.

Significance of Dell’s Momentum: Dell’s fourth-quarter results have grabbed the spotlight. The company surpassed expectations in its quarterly earnings, posting $2.20 per share, exceeding the analyst consensus by 27.17%.

Quarterly sales reached $22.3 billion, outperforming the analyst consensus estimate of $22.16 billion. Dell showcased a surging demand for its AI servers, with servers and networking revenue hitting $4.9 billion. The boost in sequential growth primarily stemmed from AI-optimized servers.

Following the Q4 results, Dell’s stock continued on an upward trajectory, with Cramer’s commendations fueling positivity. Dell’s collaboration with Subaru Corporation to enhance driver safety using AI and high-performance storage has also contributed to its recent success.

Market Response: Dell’s shares closed at $124.59, marking a 31.62% surge on Friday, as reported by Benzinga Pro.

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“This content was partially produced with the help of Benzinga Neuro and reviewed and published by Benzinga editors.”

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