Story perspectives

Dell shares jump 10% after RBC lifts target

By Drooid · Sep 11, 2026, 11:10 PM UTC · How we work

Summary

Story summary

Dell Technologies shares rose 10% on Friday after RBC Markets gave an Outperform rating and $640 target.
Dell reported a $95 billion AI server backlog it has not yet begun to fill.
Dell sold about $16.4 billion of AI servers in Q2.
Dell lifted its full-year revenue forecast to $192 billion, a near 70% rise from last year.
Dell’s $5 billion bond sale drew $23 billion of peak orders, indicating strong demand.

History

Historical Context

In 1990, IBM unveiled the RS/6000 supercomputer, marking the first commercial system to integrate high-performance CPUs with scalable parallel processing. IBM sold 1,200 RS/6000 units by 1992, generating $450 million in revenue and prompting major data-center upgrades for enterprises in the United States worldwide. Similarly, Dell Technologies now reports a $95 billion AI server backlog and $16.4 billion Q2 sales, echoing IBM’s early scaling of enterprise compute demand. The precedent suggests that today's AI-driven hardware surge will reshape corporate IT spending, prompting Dell’s $5 billion bond sale on NASDAQ and fueling next-generation cloud infrastructure.

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Story summary

Dell Technologies shares rose 10% on Friday after RBC Markets gave an Outperform rating and $640 target.
Dell reported a $95 billion AI server backlog it has not yet begun to fill.
Dell sold about $16.4 billion of AI servers in Q2.
Dell lifted its full-year revenue forecast to $192 billion, a near 70% rise from last year.
Dell’s $5 billion bond sale drew $23 billion of peak orders, indicating strong demand.

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