Dell shares pop on report of $5 billion deal for AI servers for Elon Musk’s xAI

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Dell shares pop on report of $5 billion deal for AI servers for Elon Musk’s xAI

Dell shares jumped to a session high on Friday following a report saying Elon Musk’s startup xAI was getting ready to agree to buy $5 billion in artificial intelligence servers from the hardware maker.

The equipment would contain Nvidia‘s GB200 graphics processing units, according to Bloomberg, which cited unnamed sources.

Many data center gear manufacturers have been seeing growth from selling boxes for training and running AI models. Dell

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in November that it had $3.6 billion in quarterly AI server order demand. Dell’s total revenue for the quarter ended Nov. 1 totaled $24.37 billion, up 10% year over year.

In December xAI

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a $6 billion funding round. CNBC reported that Musk was raising the money to purchase GPUs.

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