Core Insights - Dell Technologies (DELL) is experiencing significant growth driven by its strong partner network and focus on AI solutions, particularly in its Infrastructure Solutions Group (ISG) [1][2][3] Group 1: Financial Performance - ISG revenue reached a record $14.1 billion in Q3 FY26, marking a 24% year-over-year increase and seven consecutive quarters of double-digit growth [1][11] - The company logged $12.3 billion in AI server orders during Q3 FY26, with a record backlog of $18.4 billion [2][11] - For Q4 FY26, revenues are expected to be between $31 billion and $32 billion, suggesting a 32% year-over-year growth at the mid-point of $31.5 billion [5][11] Group 2: Strategic Partnerships - An expanding partner base, including companies like NVIDIA, Microsoft, and IREN, is a major growth driver for Dell Technologies [4][11] - A collaboration with IREN to deploy NVIDIA-powered AI infrastructure across North America is expected to advance AI innovation [4] Group 3: Competitive Landscape - Dell faces stiff competition in the AI infrastructure space from companies like Super Micro Computer (SMCI) and Cisco Systems (CSCO) [6] - Cisco Systems reported AI infrastructure orders from hyperscalers hitting $1.3 billion in Q1 FY26, with expectations of $3 billion in revenues for fiscal 2026 [8] Group 4: Valuation and Market Position - DELL shares have gained 13.9% in the trailing six-month period, underperforming the broader Zacks Computer & Technology sector's return of 15.8% [9] - DELL's forward 12-month Price/Sales ratio is 0.59X, significantly lower than the sector's 7.18X, indicating a potentially undervalued position [13]