Dell lifts long-term annual growth forecasts on strong AI server demand

Core Viewpoint - Dell has raised its long-term revenue and profit growth forecasts, indicating strong demand for its servers that support artificial intelligence workloads [1][2]. Group 1: Revenue Growth - Dell now expects compounded annual revenue growth between 7% and 9%, an increase from its previous forecast of 3% to 4% [1]. - The demand for computing power necessary for generative AI products like ChatGPT has significantly boosted demand for Dell's products [1]. Group 2: Earnings Growth - The company has also increased its expectations for annual growth in adjusted earnings per share to at least 15%, nearly doubling its previous target of 8% [2]. - CEO Michael Dell emphasized that customers are eager for AI and the associated compute, storage, and networking solutions provided by the company [2].