Dell stock skyrockets 32% for its best day ever as AI server revenue soars

Shares of Dell Technologies closed 32.76% higher on Friday, wrapping its best day ever after the company reported its fastest pace for revenue growth for any period since returning to the public market in 2018.

The stock narrowly beat its previous record from March 1, 2024, when it popped 31.6%. Shares are now up 234% in 2026.

Dell, which reported first-quarter earnings after the bell on Thursday, saw a flood of artificial intelligence -related demand for its servers, which contain graphics processing units from companies like Nvidia .

Quarterly revenue soared nearly 88% year over year, with AI server revenue alone increasing 757% from a year earlier to $16.1 billion. Adjusted earnings per share came in at $4.86, beating expectations of $2.94.

Ben Reitzes, head of technology research at Melius, said he'd "never seen anything like" Dell's latest quarter.

"They beat every line in the model, so this wasn't just AI, it was great execution," Reitzes told CNBC's "Squawk on the Street." "They beat whatever we would've thought."

On Friday, some analysts had to rethink their approach to Dell after the surprise print.

Morgan Stanley wrote that while they expected a clean beat and raise this quarter, they're "eating our humble pie" off the back of Dell's results.