Dell record quarter lifts AI stocks; oil falls on Iran deal

Dell Technologies climbed 28.54% after reporting fiscal first-quarter revenue of $43.8 billion and raising fiscal 2027 guidance. The company booked $24.4 billion in AI orders and recognized $16.1 billion in AI server revenue during the quarter. CEO Jeff Clarke reported, “Revenue was $43.8 billion, up 88%, and earnings per share was $4.86, up 214%.”

The results pushed gains across AI infrastructure and software names. Hewlett Packard Enterprise rose about 14%, Super Micro Computer gained roughly 10%, Oracle added 9%, Microsoft increased nearly 4%, and Micron advanced about 4.5%. NetApp posted a record fiscal fourth quarter with $1.95 billion in revenue. Selective AI and security firms including Palantir and CrowdStrike also moved higher.

U.S. benchmark indexes finished higher. The S&P 500 rose 0.37% to 7,591.78, the Dow Jones Industrial Average gained 0.76% to 51,054.7, and the Nasdaq Composite added 0.39% to 27,022.2. Market breadth was mixed, with about 46% of stocks advancing and 50% declining.

Oil prices declined after U.S. officials signaled progress toward a framework with Iran that could reopen the Strait of Hormuz and ease shipping concerns. West Texas Intermediate fell to about $86 a barrel and the energy sector lost roughly 0.9% on the session. Major producers including Exxon Mobil and Chevron traded lower.

Former President Donald Trump outlined proposed terms for a U.S.-Iran arrangement that include a commitment by Iran not to develop a nuclear weapon, an immediate reopening of the Strait of Hormuz to unrestricted shipping, and removal of water mines. Details remain subject to final negotiation.

An Exxon Mobil executive, Neil Chapman, warned that global oil inventories could fall to unusually low levels in the coming weeks and said Brent crude could rise to $150–$160 per barrel if supply tightens sharply. Analysts and traders noted strategic reserve releases have masked faster commercial drawdowns, and some estimates place cumulative shortfalls tied to Hormuz disruptions in the hundreds of millions of barrels.

Traders noted the near-term contrast between diplomatic signals that could restore shipping and industry warnings about physical-market tightness. Market participants are watching upcoming corporate earnings and further oil market updates for signals on sector rotation and risk sentiment.