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Jim Cramer commends Michael Dell for his contributions to advancing AI, dubbing him "the man taking AI to the next level"

1 mins

Alina  Chernomorets

Published by: Alina Chernomorets

07 March 2024, 05:40PM

In Brief

Jim Cramer praises Michael Dell, CEO of Dell Technologies, for advancing artificial intelligence.

Dell's AI-optimized server orders increased by nearly 40% sequentially.

Fourth-quarter results: Dell exceeded analyst expectations with $2.20 per share in earnings and $22.3 billion in sales.

Dell's stock rose by 31.62% following the Q4 results and favorable market sentiment.

Dell's strategic partnership with Subaru Corporation focuses on AI for driver safety and high-performance storage.

Jim Cramer, the host of CNBC’s “Mad Money,” has lauded Michael Dell, the CEO of Dell Technologies, Inc., for his instrumental role in advancing artificial intelligence. Following the company’s impressive fourth-quarter results, Cramer took to X to express his admiration for Dell’s AI leadership.

Dell's AI Milestones

  • Orders of AI-optimized servers increased nearly 40% sequentially.
  • Backlog saw almost a double increase, exiting the fiscal year at $2.9 billion.
  • Quarterly sales exceeded expectations, with $2.20 per share.
  • Quarterly sales totaled $22.3 billion.
  • Servers and networking revenue reached $4.9 billion.

Positive Market Response

Post the Q4 results, Dell's stock continued its upward trajectory, closing at $124.59, up by 31.62% on Friday. Cramer's comments further bolstered the positive sentiment surrounding the company. Dell's strategic partnership with Subaru Corporation to enhance driver safety through AI and high-performance storage has also contributed to its recent success.

Jim Cramer hailed Dell as the trailblazer in AI innovation and commended the company's growth trajectory, setting a benchmark for the industry.

Check out more of Benzinga’s Consumer Tech coverage for comprehensive insights.

Disclaimer: This content includes insights from Benzinga Neuro and was approved for publication by Benzinga editors.

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