Dell's stock reached an all-time high. Dell has joined the ranks of the world's top three richest people

Shares of Dell Technologies, a manufacturer of AI servers and PCs, hit a new all-time high on Friday. The rise in the stock price allowed the company’s CEO, Michael Dell, to surpass Amazon co-founder Jeff Bezos and take third place on Forbes’ list of the world’s richest people. On September 11, Dell’s net worth rose by nearly 7%, according to the magazine’s estimates.

Shares of Dell Technologies, a manufacturer of PCs and data center server racks, jumped 12% during trading on September 11, reaching an all-time high of $567.3. Friday’s surge continued Dell’s impressive rally: since the beginning of 2026, the company’s stock has more than quadrupled in value, according to CNBC.

Amid a sharp rise in stock prices, Michael Dell’s net worth, according to Forbes, increased by nearly 7% on September 11, reaching $276.5 billion. Dell owns about 40% of Dell, Forbes reports. In addition, part of his fortune is tied to his own private investment firm, DFO Management, the publication notes.

The rise in Dell’s stock price made Dell the third-richest person in the world—he took that spot from Jeff Bezos, whose fortune Forbes estimates at $273 billion. Dell and Bezos vied for a spot in the top three of the ranking throughout the week. On Tuesday, Dell rose to third place on Forbes’ list of the world’s richest people for the first time; on Thursday, he lost that spot after Dell Technologies’ stock price fell; and on Friday, he once again surpassed Bezos, Forbes notes. Dell and Bezos trail Alphabet co-founder Larry Page by only a small margin in terms of controlled capital—his fortune was estimated at $277.9 billion on Friday.

Dell Technologies shares rose amid a new influx of capital into hardware manufacturers involved in the construction of AI data centers, according to Forbes. Last week, Dell reported that its quarterly revenue from AI servers doubled, reaching $16.4 billion. Hewlett Packard Enterprise, for its part, reported $2.4 billion in orders for AI systems, while its total AI order backlog reached a record $7.6 billion.

Dell Technologies has been one of the beneficiaries of the AI boom. In the most recent quarter, the company reported $47 billion in revenue—a 58% increase from a year earlier. Orders for AI servers reached a record $60.9 billion, and revenue from this segment totaled $16.4 billion. Meanwhile, Dell’s backlog of server orders stands at $95 billion.

Dell Technologies shares likely received additional support from RBC Capital Markets’ decision to assign them a “beat the market” rating and set a price target of $640, according to Forbes. This is nearly 13% higher than the closing price on September 11. “With no signs of a slowdown, we believe Dell remains well-positioned and will be able to benefit from the multi-year cycle of investment in AI infrastructure,” CNBC quotes RBC analyst David Page as saying.

Dell was one of the first companies to begin shipping Nvidia Grace Blackwell NVL72 AI server racks, which went on sale this year. However, AI-related demand is also growing for Dell products that do not use Nvidia chips, particularly data storage systems, according to CNBC. Revenue in this segment increased by 26% in the last quarter. According to RBC, Dell could effectively serve as a one-stop shop for companies building AI infrastructure, providing all the necessary equipment. “Dell’s best-in-class supply chain creates a competitive advantage that particularly sets the company apart during periods of supply disruptions: amid volatility and shortages, customers are increasingly turning to Dell as a reliable partner capable of providing predictability,” Page wrote.

Wall Street views Dell shares positively: 24 of the 33 analysts covering the stock recommend buying it, while nine others recommend holding it, according to MarketWatch. Analysts’ average price target is $591.4, which is 4% higher than the closing price on September 11.

This article was AI-translated and verified by a human editor