Dell surges 12% in a single day to a record high, Oracle names it a core supplier in $95 billion AI spending

BlockBeats news, September 12 — Oracle management explicitly stated at its earnings briefing that its fiscal year 2027 capital expenditure of $90 billion to $95 billion will focus on AI data center expansion, and named suppliers including Dell and HPE. Boosted by this, Dell Technologies' U.S. shares surged 11.98% on Friday, hitting a record high, with market capitalization surpassing $360 billion and a year-to-date gain of nearly 350%.

Oracle previously disclosed that its fiscal year 2027 capital expenditure will increase substantially, mainly for AI server racks, liquid cooling, and networking equipment procurement. At the same time, the company's AI cloud orders continue to grow, further enhancing the visibility of Dell's future AI server orders.

RBC Capital initiated coverage on Dell with an "Outperform" rating, believing the company will continue to benefit from a multi-year AI infrastructure investment cycle, and noting that its supply chain capabilities constitute a competitive moat. Dell currently has more than 6,500 AI server customers, with second-quarter AI server revenue reaching $16.4 billion, up 100% year-over-year, and AI server backlog at the end of the quarter reaching $95 billion.

As cloud vendors such as Oracle continue to ramp up AI infrastructure, Dell is becoming a key beneficiary of this round of AI capital expenditure expansion.