Michael Dell Just Made $35.8 Billion In A Day — Dell's Historic Rally Sent Him Past Zuckerberg

Dell Technologies founder Michael Dell saw his fortune climb to roughly £183 billion ($246 billion) on 29 May after the company posted its strongest single-day stock gain in history, driven by an artificial intelligence infrastructure boom that crushed Wall Street estimates and sent shockwaves through the broader server sector.

Shares of Dell Technologies soared approximately 33 per cent on the day, closing at £313 ($420.91) after touching an all-time intraday high of £319 ($429.15). The rally added roughly £26.6 billion ($35.8 billion) to Dell's personal wealth in a single session, pushing him past Meta chief executive Mark Zuckerberg—whose fortune stood at around £160 billion ($215.6 billion)—to become the world's sixth-richest person, Forbes confirmed.

The stock surge followed Dell's first-quarter fiscal 2027 earnings, released after the bell on 28 May.

Record Quarter Fuelled by AI Server Demand

Revenue hit £32.6 billion ($43.8 billion) for the quarter ending 1 May, up 88 per cent year on year and well ahead of the £26.3 billion ($35.4 billion) analysts had expected. Non-GAAP earnings per share came in at £3.61 ($4.86), more than tripling the prior year and beating consensus estimates of £2.16 ($2.90) by a wide margin. Constellation Research noted it was the company's fastest pace of revenue growth since returning to the public market in 2018.

Dell's Infrastructure Solutions Group was the standout performer. The division brought in £21.6 billion ($29 billion), a 181 per cent increase from a year ago. AI-optimised server revenue alone reached £12 billion ($16.1 billion), up 757 per cent year on year, while traditional server and networking sales hit £6.3 billion ($8.5 billion), a 92 per cent rise. Storage revenue grew 8 per cent to £3.2 billion ($4.3 billion).

Jeff Clarke, Dell's vice chairman and chief operating officer, said the company booked £18.1 billion ($24.4 billion) in AI orders during the quarter and exited with a record AI backlog of £38.1 billion ($51.3 billion), up from £32 billion ($43 billion) at the close of the prior quarter. Dell's AI customer base has now passed 5,000 accounts.

'We're increasing our AI server revenue expectations for FY27 to $60 billion, which only goes to show the AI opportunity shows no signs of slowing,' Clarke said.

AI Tailwind Lifts Rival Server Stocks

Dell's blowout quarter did not just move its own shares. A broad sympathy rally rippled across the AI infrastructure sector on 29 May, with rival server and hardware makers riding the same wave of investor optimism.

Super Micro Computer gained roughly 16 per cent on the day, while Hewlett Packard Enterprise climbed about 13 per cent, according to MarketWatch. HP Inc. added 8 per cent. Analysts described the surging AI demand as a 'tide that will lift all boats' rather than evidence of Dell stealing market share from competitors.

The sector rally followed Dell's decision to raise its full-year fiscal 2027 revenue guidance to between £122.7 billion and £125.7 billion ($165 billion to $169 billion), sharply above its prior outlook. Management also lifted the AI server revenue forecast for the year to roughly £44.6 billion ($60 billion), up from £37.2 billion ($50 billion) just one quarter earlier.

Dell cited memory availability as the primary constraint on shipping — demand continues to outstrip supply. Clarke told analysts that customers are increasingly seeking multiyear infrastructure agreements to secure access to AI hardware, with some pulling orders forward to lock in pricing.

'There is a pull-in component, there's a buy ahead. Customers want to ensure they have access to supply,' Clarke said during the earnings call. 'They're concerned about raising prices, and they're acting.'

The rally capped a remarkable stretch for Dell Technologies, whose shares have risen more than 230 per cent year to date. The company also recently secured a £7.2 billion ($9.7 billion) Pentagon contract for software services, further broadening its revenue base beyond commercial AI infrastructure.

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