Why Dell shares jumped as much as 5% today

Shares of Dell Technologies rose as much as 5% on Wednesday (September 16) before paring some gains. The move follows a rise of about 5.8% in the previous session after European AI chip startup Axelera AI unveiled a new inference processor that is expected to feature in future Dell systems.

The gains have come as investors focus on Dell’s position in AI infrastructure and the expansion of its server business beyond GPU-based systems.

 

Axelera adds another AI chip option

On Tuesday, September 15, Axelera AI announced its Europa inference processor, designed for enterprise and data-centre workloads. The chip is expected to be used in future systems from Dell and Supermicro. Axelera said more than 600 customers are using its technology, with signed agreements worth tens of millions of dollars and a potential sales pipeline of more than $1.5 billion.The $1.5 billion figure is a potential sales opportunity rather than booked revenue.

Dell’s AI-server business remains a larger part of its growth. The company reported about $95 billion in AI-server backlog at the end of its latest quarter after shipping $16.4 billion of AI systems.

 

Also read: Dell shares jump 5.8% as Axelera AI chip set to enter its servers

 

CFO points to broader infrastructure demand

At Citi’s 2026 Global TMT Conference on September 10, Dell CFO David Kennedy said AI infrastructure demand was expanding beyond GPU servers into CPU-based inference, storage and other enterprise systems. He said Dell’s portfolio allows it to support customers across different infrastructure requirements, including on-premise and hybrid deployments.Kennedy also said Dell was positioned to benefit as AI workloads generate demand across computing and storage. He described CPU-based inference as a newer source of demand compared with the company’s earlier focus on GPU servers.Dell also drew attention in July after US President Donald Trump urged Americans to buy the company’s computers during a White House event linked to the launch of Trump Accounts. Michael and Susan Dell had committed more than $6 billion to the initiative. Dell shares rose more than 7% following Trump’s remarks on July 6.