DELL

Thanks to AI, the company added US$6.6 billion in market value

Driven by strong optimism regarding artificial intelligence (AI), Dell achieved a record rise in its shares on Friday (24) that added US$6.6 billion to the company in market value, as reported by Reuters. Worth more than US$100 billion, the company works in collaboration with Nvidia, feeling the impact of big tech's success. 

Dell shares rose 6% on Friday(24/05) to $162.82; 

Year to date, the company's shares have soared 90%, helping the company surpass US$100 billion in market value;  

Rise comes after company launches AI-driven personal computers and more powerful servers in collaboration with Nvidia; 

The rise, according to analysts, is a reflection not only of the market's enthusiasm for AI, but of the partnership with Nvidia, which continues to experience an increase in its business thanks to its heavy bets on technology; 

Not just Dell and Nvidia, shares of other companies related to AI chips also rose, such as Qualcomm and Arm Holdings. 

''This is an important and timely new opportunity for Dell.''...Bob O’Donnell of TECHnalysis Research. Recently, the company announced that it would further limit its external hiring and reorganize its headcount.   As of February 2024, Dell has fewer than 120,000 employees, down from about 126,000 the previous year. Part of this cut was carried out in 2023, when the company announced a mass layoff of at least 6 thousand employees. 

Nvidia's success ...It is worth noting that Dell's success also comes after the company implemented new strategies this year, such as cost cutting, as did most technology companies.

mundophone