Topline
Michael Dell dropped to No. 4 on Forbes’ Real-Time Billionaires list on Monday morning as his company’s shares fell over 6% amid a broader selloff in AI stocks triggered by calls from top AI executives to slow the pace of development over mounting safety concerns.
SUN VALLEY, IDAHO – JULY 11: Michael Dell, CEO of Dell attends the Allen & Company Sun Valley Conference on July 11, 2024 in Sun Valley, Idaho. (Photo by Kevork Djansezian/Getty Images)
Getty Images
Key Facts
Dell Technologies shares were down over 6% as of 11:25 a.m. EDT, trading at $533.15 as AI-linked stocks sold off globally, and marking a sharp reversal from Friday, when shares jumped over 11% to a record high as investors embraced its role in supplying the infrastructure behind the AI boom.
The company’s stock has gained roughly 321% in 2026, propelling Dell’s personal net worth ($261.4 billion) to more than double this year.
The drop comes as AI stocks absorb warnings from AI leaders like Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman about the risks of moving too quickly on AI development: Nvidia was down over 3% as of 11:25 a.m. EDT, AMD was down over 5.5%, Intel was down 5.5% and Qualcomm had dropped over 2.5%.
AI-linked companies around the world are selling off, with the Tokyo-listed shares of SoftBank ending the trading day over 10% down, the Netherlands’ semiconductor giant ASML sliding over 4% in Monday trading and Samsung ending the day over 4% down in Tokyo.
KEY BACKGROUND
Dell has been one of the major beneficiaries in the rise in data-center spending, since it sells the servers, storage and equipment companies need to run AI workloads. On Sept. 1, the company reported hitting a record $47 billion in revenue in its second quarter for fiscal year 2027, up 58% year over year, while AI-optimized server revenue doubled over a year to $16.4 billion. The gains significantly boosted the personal wealth of Michael Dell, who owns roughly 40% of Dell Technologies, handing him the title of third-wealthiest person in the world for the first time on Sept. 8, and the second a day later.
BIG NUMBER
$74 billion. This is Dell’s latest fiscal year 2027 forecast for revenue from AI-optimized servers, up from $60 billion and almost triple the $25 billion it generated last fiscal year.
FORBES VALUATION
After passing Google’s Larry Page for the No. 2 spot on Sept. 9, Dell now ranks behind Elon Musk, Page and Jeff Bezos.
FURTHER READING
AI Stocks Plummet Amid Calls For Slowdown—Softbank Chief’s Fortune Drops By $8 Billion (Forbes)
Michael Dell Hits No. 2 On Forbes Billionaire List For First Time—Passing Larry Page (Forbes)
Be the first to comment