Dell and HPE stocks rise after Super Micro boosts AI revenue forecast

Dell Technologies and Hewlett Packard Enterprise shares rose in premarket trading Wednesday after Super Micro Computer issued a stronger-than-expected preliminary financial forecast, signaling robust demand for artificial intelligence infrastructure amid investor doubts about the sustainability of corporate AI spending. Super Micro raised its September-quarter revenue forecast to $18.5 billion-$19.5 billion, up from prior guidance of $14.5 billion-$15.5 billion, and projected gross margins of 12%-12.5%, exceeding earlier estimates. Dell shares gained nearly 5% and HPE rose about 4%, while Super Micro surged over 12%. Evercore ISI analyst Amit Daryanani called the update a positive data point for AI compute demand. The rally follows recent declines, with Dell down about 19% and HPE down 18.5% over the past five sessions. Barclays downgraded both companies last week, citing limited corporate AI spending and attributing revenue growth largely to memory costs. Super Micro is scheduled to report official quarterly results on November 3.