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Dell Technologies reported Q3 FY2026 revenue of $27.01 billion, missing Wall Street estimates but raising full-year guidance. AI orders hit a record high, with sales expected to grow 16-17% annually. The company's AI server backlog rose to $18.4 billion, but profitability concerns remain due to increased costs from components like NVIDIA processing chips and high-bandwidth memory. Dell's shares rose 5.8% after the earnings release, delivering a 17% return in 2025.

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