Dell raises full-year forecasts on AI strength, demand recovery

Dell Technologies raised its full-year forecast for revenue and profit on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump.

Shares of the Round Rock, Texas-based company rose 8% in extended trading.

The results are the latest sign that a downturn in tech spending could be drawing to a close after major networking equipment provider Cisco also beat quarterly revenue estimates.