Shares of Dell Technologies jumped in premarket trading in New York after executives are expected to unveil a sharply higher long-term financial outlook at the company's Securities Analyst Meeting on Tuesday morning, boosting confidence in AI-driven demand across its data center and PC units. It seems that with each passing day, more AI-related headlines, from Monday's AMD-OpenAI deal to the ongoing AI vendor-financing "circle jerk", continue to propel AI and chip stocks to record highs. 

Chairman and CEO Michael Dell and other members of the executive leadership team will announce a new "long-term financial framework" that forecasts sales to rise at a rate of 7% to 9% annually for the next four years, while earnings per share, excluding some items, will increase 15% or more. The previous forecast, which was made in 2023, had an estimated revenue growth of 3% to 4% and adjusted EPS of 8% or better. 

Ahead of the Securities Analyst Meeting that begins around 0930 ET, COO Jeff Clarke told Bloomberg, "We were all wrong how big we thought the AI market was two years ago, and it's nothing but bigger." This growth is fueled by orders from CoreWeave, Elon Musk's xAI, the U.S. Energy Department, and Abu Dhabi's G42.

Here's more commentary from Dell leadership ahead of the analyst meeting:

Shares of Dell in New York in premarket trading jumped 6% on the press release from the company detailing what executives were planning to unveil at the upcoming analyst meeting. Shares are up 26.5% on the year (as of Monday's close). 

News from Dell adds to the positive news flow that has sent the Philadelphia Stock Exchange Semiconductor to record highs.

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