Jim Cramerthe host of CNBC’s “Mad Money,” praised Michele Dellthe CEO of Dell Technologies, Inc. DELLfor its role in advancing artificial intelligence, following the company’s impressive fourth quarter results.
What happened: Cramer began to do so Xpreviously Twitter, to express his admiration for Dell’s leadership in artificial intelligence. He shared a 2021 tweet from Michael Dell, in which the CEO reflects on the company’s remarkable growth over the years.
“This is the man who is taking AI to the next level!”
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“Our strong AI-optimized server momentum continues, with orders up nearly 40% sequentially and a backlog nearly doubling, closing our fiscal year at $2.9 billion,” he said Jeff ClarkeCOO of Dell Technologies.
Because matter: Dell’s fourth quarter results were a topic of interest. The company beat expectations in terms of quarterly earnings, posting $2.20 per share, beating analysts’ consensus of $1.73 by 27.17%.
Quarterly sales came in at $22.3 billion, beating analysts’ consensus estimate of $22.16 billion. Dell also highlighted growing demand for its AI servers, with server and networking revenue reaching $4.9 billion. Sequential growth was primarily fueled by AI-optimized servers.
Just a day after the fourth quarter results, Dell shares continued their upward trajectory, with Cramer’s comments adding to the positive sentiment. The company’s partnership with Subaru Company Improving driver safety through artificial intelligence and high-performance storage has also been a contributing factor to its recent success.
Price Action: According to Benzinga Pro, Dell shares closed at $124.23, up 31.24% over the past 24 hours.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and has been reviewed and published by Benzinga Editors.
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