Dell jumps 12% as CoreWeave's results lift AI server stocks, with Super Micro up 9.5%
Dell Technologies (DELL) rose 12% on Wednesday, leading a rebound in AI server makers after CoreWeave's results calmed worries about AI spending.
Super Micro Computer (SMCI) gained 9.5% and Hewlett Packard Enterprise (HPE) 5%. All three build the servers that fill AI data centers.
CoreWeave (CRWV), which rents out AI computing capacity, raised its 2026 revenue forecast to $13.0B-$13.3B on Tuesday. Its shares rose 25%. CEO Michael Intrator told CNBC: "Demand for the infrastructure is and remains overwhelming."
The company also plans to pay for its build-out with customer prepayments and loans backed by customer contracts, instead of new unsecured bonds. That eased doubts about how the data centers that buy these servers get financed.
The rally reached across AI hardware. The Philadelphia Semiconductor Index rose 6%, Micron (MU) 12% and Nvidia (NVDA) 3%.
The Nasdaq 100 rose 2.3% and the S&P 500 1.3%. The Cboe Volatility Index, a gauge of expected stock swings, fell 10%. The Treasury market was closed for Veterans Day.
The bounce follows a steep slide. Dell closed on Tuesday 43% below its October 9 close, our price history shows, while Super Micro and HPE each lost about a third.
Worries about slower data center construction, higher interest rates and questions about Nvidia's chief executive weighed on the group.
Dell's last report pointed to strong demand. On September 1, it reported a record $95B backlog of AI server orders and raised its full-year revenue forecast by $25B to $192B.
Nvidia reports results on November 17, and Dell follows on November 24.
Sources & Further Reading
- "S&P 500, Nasdaq rise as CoreWeave results ease AI spending worries." Reuters. November 11, 2026.
- "CoreWeave soars 23% as CEO reaffirms AI compute demand after strong Q3 report." CNBC. November 11, 2026.
- "Dell Technologies (DELL) Stock Price History." Stock Analysis. November 11, 2026.
- "Dell Technologies Q2 2027 Earnings Press Release." Dell Technologies. September 1, 2026.
This article was drafted with the help of AI. Gabe Dunsmith fact-checked, edited and published the article and is responsible for its accuracy and quality. How we use AI
