Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
AI Stock Guru Serenity: Dell Jumps 28%, the Upstream Supply Chain Hasn’t Caught Up Yet
Dell (Dell) Q1 earnings far exceeded expectations, with revenue of $43.8 billion, up 88% year-over-year. AI server revenue reached $16.1 billion, up 757% year-over-year, and it surged by as much as 39% after the bell. “New Stock God” Serenity said that investors who missed Dell’s rally can look to the upstream supply chain.
(Background: Is Trump in a hurry? Pushed seven major events in one day, and conveniently helped Dell soar 14%.)
(Additional background: Trump’s stock-trading details exposed! In Q1, 3,642 buys/sells, spending heavily to buy NVIDIA, Dell publicizes the “call-and-rally” again.)
Key Highlights
From $126 to $441—triple in three months. In February, Trump disclosed through financial filings that he bought $1 million to $5 million worth of Dell stock at about $126 per share. After Dell released its earnings after the market close on the 28th, the stock surged again to $441.
On the 27th, the Pentagon had just signed a five-year, $9.7 billion contract (Core Enterprise Technology Agreement) with Dell—providing Microsoft software licensing services to the U.S. military, intelligence agencies, and the Coast Guard—expected to save $422 million annually.
AI server up 757% year-over-year
The sheer magnitude of the earnings figures can no longer be described as “better than expected.” Dell’s Q1 revenue hit $43.8 billion (a record high), up 88%, beating Wall Street’s expectation of $34.8 billion by a full $9 billion. Non-GAAP EPS was $4.86, up 214% year-over-year, while expectations were only $2.88.
Breaking it down, Infrastructure Solutions Group (ISG) revenue was $29.0 billion, up 181% year-over-year. Among that, AI-optimized servers contributed $16.1 billion, up 757% year-over-year. Quarterly AI orders reached $24.4 billion, and backlog ballooned to $51.3 billion (a record high). Client Solutions Group (CSG) revenue was $14.6 billion, up 17% year-over-year, and the PC business is also recovering.
Dell also raised its full-year outlook. Revenue is expected to be between $165.0 billion and $169.0 billion (about 47% year-over-year). The AI server revenue target was raised from the previous level to $60 billion, and the non-GAAP EPS target was $17.90 (up 74% year-over-year).
The supply-chain logic behind the “New Stock God”
Serenity—a trader with 300k to 470k followers on social media (nicknamed the “New Stock God” and “AI Stock God”)—posted after the earnings report, pointing out that Trump has mentioned Dell publicly multiple times this year, and that he personally holds the shares. “After going through Intel, you should be able to foresee that Dell will deliver earnings far beyond expectations.”
His core view is that people who missed Dell should look to the upstream side. Dell’s AI server ramp-up implies that orders for GPUs, cooling, power supplies, and motherboards are also ramping up. The market “may not have fully priced in the potential beneficiaries created by Dell’s earnings growth.”
The fact is, Taiwan’s supply chain has already started moving. The day after the earnings release (5/29), Quanta, Foxconn, Wistron, and WPG all pulled up during the trading session. Inventec rose more than 9.5%, and cooling makers’ order visibility has been pushed out to 2027. Delta’s power module and liquid-cooling solutions have also been highlighted by analysts as an end-to-end solution for AI racks.
Buying shares, making public calls, signing contracts, and surging. This rhythm has already played out once with Intel (Trump bought in → holdings doubled → publicly said he helped America earn $3.0 billion to $4.5 billion), and now Dell is the second time. Trump’s shareholding list also includes Micron, and the market is waiting to see when the third move will come.
This article is not investment advice.
Frequently Asked Questions
How did Dell’s Q1 earnings perform?
Revenue was $43.8 billion, up 88% year-over-year (a record), non-GAAP EPS was $4.86, up 214% year-over-year. AI server revenue was $16.1 billion, up 757% year-over-year, and AI order backlog hit a record $51.3 billion. Full-year revenue guidance was raised to $165.0–$169.0 billion.
How many Dell shares does Trump hold?
According to financial filings, in February Trump bought $1 million to $5 million worth of Dell stock at about $126 per share. After the earnings, the stock jumped to $441, more than tripling on paper. During a White House event on 5/8, he publicly urged people to “buy Taiwanese Dell computers.”