Stock Market Today, Sept. 2: Dell Surges 16% on Soaring AI Backlog
On Sept. 2, 2026, the infrastructure giant posted stronger-than-expected results backed by a $95 billion AI backlog, keeping investors focused on order conversion.
Overview
Dell Technologies (NYSE:DELL), a PCs, servers, storage, and enterprise AI infrastructure provider, closed at $492.00, up 15.76%. The company's stronger-than-expected quarter and raised outlook, backed by record AI server orders, drove the move, and investors are now watching AI server demand and margin trends. Trading volume reached 35.0M shares, coming in about 353% above its three-month average of 7.7M shares. Dell Technologies IPO'd in 2016 and has grown 3,976% since going public.
S&P 500 (SNPINDEX:^GSPC) rose 0.47% to 7,667, while the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 0.45% to 26,218. In computer hardware and IT infrastructure, sector rivals HP (NYSE:HPQ) closed at $32.00, up 2.16%, and Hewlett Packard Enterprise (NYSE:HPE) finished at $51.85, up 1.94%, as investors tracked Dell Technologies' AI order momentum and the broader PC margin backdrop.
Details
Dell Technologies' Q2 earnings were a perfect encapsulation of how far the company has come since its "dude, you're getting a Dell" days. Revenue and adjusted EPS spiked 58% and 203% during the quarter, rocketing past Wall Street's expectations. The core driver of Dell's success in Q2 came from its AI-Optimized Server revenue of $16.4 billion, which doubled from last year.
Source
Originally published at www.fool.com.