Dell shares surged 16.8% to a record $298 after fiscal Q1 2027 earnings crushed estimates with $4.86 EPS and a record $51.3B AI backlog.

Dell stock rises ahead of earnings as AI demand, analyst upgrades, and new product launches boost optimism.

Dell has gone from being a sleepy legacy tech company to a high-growth AI story, assembling servers packed with graphics processing units.