Michael Dell eyes AI surge as his four-decade tech empire pivots to data infrastructure

Michael Dell, the founder and long-time chief executive of Dell Technologies, told reporters the current generative-AI surge feels as big as earlier tech revolutions, perhaps even larger, but he declined to put a precise figure on its impact. The remarks came as Dell Technologies’ stock jumped 38% to an all-time high above $131 following earnings that beat expectations, driven by a 40% increase in orders for AI-optimized servers.

Holding 53% of the $79 billion company’s shares through his and Susan Dell’s names, he has overseen a transformation from a PC-focused business to a broad-based infrastructure player, a shift enabled by taking the firm private in 2013 and completing the $67 billion EMC acquisition in 2016. The firm recently launched Latitude AI PCs equipped with neural processors, though analysts caution that sizable consumer demand may not materialize until 2025.

Dell’s net worth briefly topped $100 billion as the market rallied on AI optimism. Despite his low-key public persona, Dell remains the longest-serving CEO in the tech sector, with his leadership credited for navigating multiple pivots and positioning the company to supply the hardware backbone for most Fortune 500 firms’ AI initiatives.