Dell near deal to sell $5 billion in AI servers to Musk xAI

Bloomberg is reporting that:

• Dell is near deal to sell $5B of AI servers to Musks xAI.
• The servers are to include Nvidia Blackwell chips

Shares of Dell spike higher to $116.88 up over 5% on the day. The 38.2% retracement of the move down from the December high comes in at $117.80. Getting above that level is needed to increase the buyers confidence that the low may be in place.

Dell reported earnings on February 27.

To give you an idea their revenue estimate is $24.57 billion for the quarter.

Shares of Nvidia are up $2.09 or 1.54% at $137.38. Shares of Nvidia have rebounded 5.87%. Last week, shares rose 8.14%, but that came after a decline of -. 15.81%.

This article was written by Greg Michalowski at www.forexlive.com.