Dell Technologies books record $61B in AI orders in Q2

Dell Technologies just posted numbers that would make most tech companies blush. The company booked $60.9 billion in AI server orders during its fiscal second quarter of 2027, a record that pushed its trailing twelve-month AI order total to $131.7 billion. The results, announced September 1, 2026, landed well above what investors had come to expect even from a company that has spent the last two years positioning itself as the picks-and-shovels play in the AI gold rush. The numbers behind the headline AI-optimized server revenue for the quarter came in at $16.4 billion, exactly double what Dell reported in the same period a year earlier. Total company revenue hit $47 billion for the quarter, up 58% year-over-year and itself a record. The Infrastructure Solutions Group, the division that houses Dell’s server and storage business, generated $31.8 billion, an 89% increase from the prior year. Traditional servers and networking grew 122% year-over-year. Storage, the slower-moving part of the portfolio, still managed 26% growth. The backlog figure deserves its own sentence: Dell exited the quarter with $95 billion in AI server orders waiting to be fulfilled. That is not revenue already ...