Dell Technologies (NYSE:DELL) surged by 9.32 percent on Wednesday to finish at $441.80 apiece, driven by surging demand for AI servers using Nvidia chips. The stock rallied alongside Super Micro Computer (SMCI) and Hewlett Packard Enterprises, buoyed by SMCI's record backlog of $60 billion in the fourth quarter of fiscal year 2026. Dell posted an 88 percent jump in revenues to $43.8 billion for the first quarter of the fiscal period ending May 28, with AI orders at $24.4 billion and AI segment revenues at $16.1 billion. The company stated, "We're increasing our AI server revenue expectations for FY27 to $60 billion." Dell has been a long-standing partner of Nvidia Corp. for over 25 years, with AI-related collaboration beginning in 2023 through Dell PowerEdge Systems, Project Helix in May 2023, the Dell AI Factory with Nvidia in 2024, and deeper collaboration this year on Blackwell-based AI servers and AI networking. Dell also announced a quarterly cash dividend of $0.63 on July 31, payable to shareholders of record as of July 21. For the second quarter, Dell is targeting $43.8 billion in revenues, implying 88 percent growth year-on-year.