DELL Stock’s Sharp Rally Takes It To All-Time High – Evercore Flags Surging AI Demand And Long-Term Deal Momentum

• As part of the deal, Boost Run will also tie up with Dell Financial Services.
• Evercore said the Boost deal is small relative to Dell’s projected $50 billion AI server revenue but signals growing demand and a shift toward long-term contracts.
• Earlier this year, Dell said it expects its AI server revenue to more than double by fiscal 2027 to roughly $50 billion.

Shares of Dell Technologies (DELL) rose 2% to a record high on Wednesday after a bullish analyst call, and news of a $1.44 billion deal with Boost Run underscored strong momentum in its AI server business, lifting investor sentiment.

DELL shares are on track to end a fifth straight session in the green, adding nearly 23% in the rally.

Evercore Sees Demand For Dell’s AI Infrastructure Gaining Traction

Evercore ISI raised Dell’s price target to $240 from $205 and maintained an ‘Outperform’ rating after Boost Run announced a $1.44 billion deal for AI infrastructure, according to The Fly.

As part of the expansion, Boost Run will strengthen ties with Dell Financial Services for “flexible capital deployment.” While the agreement does not specify a deployment timeline, it includes both hardware and software components.

Evercore noted that while the deal is relatively small compared to Dell’s projected fiscal 2026 AI server revenue of around $50 billion, it is an early sign that demand for enterprise AI infrastructure is gaining traction and beginning to convert into long-term, committed contracts.

Last week, Goldman said that despite high expectations following the stock’s strong rally, Dell still appears well-positioned for further earnings growth, supported by robust demand for AI servers and its advantage in securing Dynamic Random Access Memory (DRAM) supply.

Dell Sees AI Server Business Surging

Earlier this year, Dell said it expects AI server revenue to more than double to roughly $50 billion by fiscal 2027. The company added that its AI server segment already serves over 4,000 customers.

The outlook is supported by strong spending from major tech firms such as Alphabet Inc. (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META), which are expected to invest more than $630 billion in AI infrastructure in 2026, according to a Reuters report. This surge is likely to boost demand for servers and data center equipment.

Meanwhile, retail sentiment on Stocktwits remained in the ‘bullish’ zone over the past 24 hours, amid ‘high’ message volumes.

Dell shares have seen strong buying interest so far in 2026, leading to gains of more than 70%.

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