Dell raised its fiscal 2027 revenue guidance to $192 billion, up from $167 billion issued in May, citing sustained demand for AI servers. The company announced the revision during an earnings call on Monday, exceeding analyst consensus of $173.8 billion.
AI server revenue is projected to reach $74 billion in the fiscal year, according to the announcement. The $25 billion increase to full-year guidance, a 15 percent jump from the prior outlook, came as data center infrastructure orders accelerated beyond Dell's earlier projections.
Dell's server division has become the primary driver of the company's top-line growth as cloud providers and enterprises expand GPU-heavy compute capacity for generative AI workloads. The $74 billion AI server figure represents a large portion of the $192 billion total, with most expected revenue in the fiscal year coming from a single product category.
The revised guidance positions Dell above the $173.8 billion consensus estimate entered into Bloomberg by equity analysts tracking the company. Dell's gross margin expanded on strong demand for high-margin infrastructure components, with pricing power evident in a category where supply constraints have persisted.
Data center equipment makers including Nvidia, Super Micro Computer, and Broadcom have all posted stronger-than-expected results in recent quarters as customers accelerate spending on AI infrastructure. Dell's guidance increase follows a similar pattern, with orders for rack-level systems, networking gear, and storage tied to AI deployments remaining strong into the second half of calendar 2026.
Dell's $192 billion guidance now sits 24 percent above the May outlook. If the company meets this revised target, fiscal 2027 revenue will exceed any annual performance in its recent history by a substantial margin, driven almost entirely by the AI infrastructure cycle.
