Hardware Profit: Dell Revenue Soars on AI Servers, Backlog Hits $95B

Rumors of the AI infrastructure bubble popping have proven premature. On September 2, 2026, Dell Technologies published a financial report that crushed Wall Street’s pessimism. The corporation's quarterly revenue reached $47 billion, of which $16.4 billion came exclusively from servers optimized for artificial intelligence tasks.

The market was stunned not only by current revenues but also by the backlog, which reached an insane $95 billion, with the volume of new contracts hitting $60 billion. Dell was forced to revise its annual revenue forecast upward to $192 billion. These numbers are a concrete macroeconomic marker. While software AI startups struggle to make unit economics work and find paying customers, hardware integrators and "iron" manufacturers are raking in real cash. Hyperscalers' hunger for computing power remains unsated, and the CAPEX cycle will continue pumping liquidity onto the balance sheets of infrastructure vendors.

Source: Dell / Reuters / WSJ