Dell Technologies (DELL) stock ended Thursday’s trading session higher after the company boosted its annual revenue and profit expectations. Shares rose around 30% in extended trading, continuing a 53% rally in the last 30 days. The strong results show how Dell has turned into one of ‌the biggest winners of the ⁠generative AI boom in 2026, and why the US Government is now backing the company.

Dell said it now ‌expects AI server revenue of roughly $60 billion for fiscal 2027, up from its prior expectations of $50 billion. It raised its annual revenue forecast to between $165 billion and $169 billion, a sharp increase from its previous forecast of $138 billion to $142 billion. Additionally, Dell recently reported better-than-expected results, with Q1 revenue of $43.84 billion and adjusted EPS of $4.86, while AI-related demand and server sales were cited as major growth drivers.

“We’re repricing, ⁠it feels like, every day. And I’m sure our customers feel that pain. Unfortunately, I don’t see that changing given the world that we’re living in today where you have an ​inflationary environment,” ​Dell’s chief operating officer Jeff Clarke said on ​a post-earnings call. He and the company went on to post second-quarter revenue ​and adjusted profit per share forecasts that were above market estimates.