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Dell FY2027 Q2: AI Server Backlog Hits Record $95B, Raises Outlook

Dell reported FY2027 Q2 revenue of $47B, up 58% YoY, with AI-optimized server revenue doubling to $16.4B and backlog reaching a record $95B. The company raised its full-year revenue guidance by $25B to $192B, but operating cash flow declined 12.5% YoY, highlighting working capital strain from AI server growth.

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