Dell shares soar as annual forecast gets a boost from AI adoption

FILE PHOTO: 3D printed clouds and figurines are seen in front of the Dell logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Dell Technologies shares surged more than 20% on Friday after the tech equipment maker provided an annual forecast that was largely ahead of Wall Street expectations and reinforced rising demand for AI-related gear.

At $116.6, more than $15 billion was set to be added to the company's market capitalization if the current level holds, and would be the second straight gains of about 20% for the stock a day after quarterly results.