Dell Books Record $60 Billion in AI Server Orders in a Single Quarter, Backlog Surges to $95 Billion

Dell Technologies reported Q2 FY27 revenue of $46.97 billion, up 58% year-over-year, driven by $16.4 billion in AI server revenue and a record $60.9 billion in AI orders that pushed backlog to $95 billion. The company raised full-year revenue guidance by $25 billion to $192 billion.

Key Takeaways

Dell Technologies reported Q2 FY27 revenue of $46.97 billion, up 58% year-over-year, driven by $16.4 billion in AI server revenue and a record $60.9 billion in AI orders that pushed backlog to $95 billion.
The company raised full-year revenue guidance by $25 billion to $192 billion.

AI synthesis3 sources7

Dell Technologies on September 1 reported fiscal Q2 FY27 revenue of $46.97 billion, up 58% year-over-year and approximately $37 million above consensus expectations. The results were driven by surging demand for AI infrastructure.

AI server revenue hit $16.4 billion, while a record $60.9 billion in AI orders pushed the company's backlog to $95 billion. Management raised full-year revenue guidance by $25 billion to $192 billion and tripled the FY27 AI-optimized server target to roughly $74 billion.

EPS came in at $1.90, beating the $1.60 street estimate. Shares jumped more than 9% in after-hours trading on the strength of the results and forward guidance.

The numbers underscore the scale of enterprise AI infrastructure buildout happening across the industry, with Dell positioned as a primary beneficiary through its server and storage businesses.