Dell reported strong Q2 results with revenue of $43.84 billion, well above the $36.13 billion consensus, driven by AI infrastructure demand across servers, storage, and rack-scale systems. Gross margins rose 57% to $7.9 billion, operating expenses fell sharply to the lowest level in over 20 years, and EPS reached $4.86 versus $3 expected, as demand exceeded supply in every segment. Backlog hit $51.3 billion including $24.4 billion in AI orders from over 5,000 customers, though memory constraints remain a limiter while the AI Factory expands from data centers to desktop systems.

Company: Dell Technologies Inc. (DELL) — Q1 FY2027

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