Dell Doubles Growth Forecasts on Strong AI Server Demand

Dell Technologies has substantially increased its long-term growth projections, anticipating annual sales growth of 7% to 9%, up from the previous 3% to 4%, and adjusted earnings per share growth of 15% or more, nearly doubling its prior targets. This optimistic outlook is driven by strong demand for computing power, particularly servers, necessary to support artificial intelligence workloads and generative AI products like ChatGPT. CEO Michael Dell emphasized that customers are eager for AI infrastructure, including compute, storage, and networking solutions, which is fueling this growth. The company unveiled this updated financial framework, extending through fiscal year 2030, at an investor event, with COO Jeff Clarke highlighting the sustained impact of AI demand. These revised forecasts reflect Dell's confidence in the expanding AI market's ability to turbocharge its revenue and profit growth over the next several years.