BUZZ-Dell rises after raising FY25 forecast on demand for its Nvidia-powered AI servers

Reuters · 08/30 16:07
BUZZ-Dell rises after raising FY25 forecast on demand for its Nvidia-powered AI servers

Updates

** Dell Technologies DELL.N rises 4.2% to $115.42 in day trading; a one-month high

** PC maker lifts annual earnings forecast on higher demand for its Nvidia NVDA.O-powered AI-optimized servers

** Raises annual revenue forecast for FY25 to $95.5 bln to $98.5 bln, from $93.5 bln to $97.5 bln expected previously

** Q2 adj. profit, reve beat ests.

** "AI-optimized server demand was $3.2 billion, up 23% sequentially" - CFO Jeff Clarke

** At least three brokerages raise PT on stock, while five cut

** Reuters reports DELL exploring sale of cybersecurity firm SecureWorks SCWX.O

** Avg. rating of analysts is "buy" or higher; their median PT is $155 - LSEG data

** DELL up 51.56% YTD



(Reporting by Nikhil Sharma in Bengaluru)

((Nikhil.Sharma@thomsonreuters.com;))