There will be many winners as infrastructure is built to support the huge and increasing computing power needed for artificial intelligence (AI) applications. Nvidia continues to pave the way and has already been a huge beneficiary thanks to its leading advanced chips, software, and engagement with developers.
Nvidia’s revenue has soared from what was then a record $61 billion in fiscal 2024 to more than $130 billion in its fiscal year 2025, ended Jan. 26. That growth continues as sales in the first half of fiscal 2026 are expected to be approximately $90 billion. It’s all about the company’s data center segment, as companies — as well as sovereign nations — quickly invest in infrastructure to expand AI capabilities.
That infrastructure includes servers and cooling systems that are provided by Dell Technologies(DELL 1.49%). The company’s revenue has also been soaring, and it is well positioned to ride AI’s “golden wave” along with Nvidia.
Image source: Getty Images.
Nvidia’s AI factories are filling Dell’s backlog
Dell isn’t a pure-play AI stock, but it has already seen benefits from the AI revolution. Revenue hasn’t soared quite as much as it has for Nvidia, but Dell’s Infrastructure Solutions Group saw sales hit a record $43.6 billion in fiscal 2025, up 29% year over year. Zoom in specifically to its AI server business, though, and the growth is more impressive. Server shipments generated nearly $10 billion, up over sixfold from $1.5 billion in fiscal year 2024.
Demand continued to grow in the company’s fiscal 2026 first quarter, and the period ended on May 2 with a $14.4 billion AI backlog. Chief operating officer Jeff Clarke called the demand unprecedented, adding, “We generated $12.1 billion in AI orders this quarter alone, surpassing the entirety of shipments in all of [fiscal 2025].”
That’s all because of the huge data centers and AI training factories being built by large growth companies as well as sovereign governments — all of it supported by Nvidia and its powerful products. Meta Platforms, Amazon, Alphabet, and Microsoft collectively have plans to spend as much as $320 billion this year investing to expand AI capabilities.
Another group of tech companies is partnering with ChatGPT creator OpenAI for the Stargate Project, with another $500 billion in AI infrastructure investments planned over the next several years.
OpenAI has also started a program intending to help regions outside the U.S. launch large AI projects. Dell servers will likely be part of most of this development. It’s why the stock has quickly rebounded from its April lows.
More reasons to own Dell
That growth is driving investors to Dell stock. But there are other reasons to own it, too. The company’s Client Solutions personal computer segment is also integrating AI for commercial and retail clients. That segment provides a stable cash flow base and it generated more revenue than the Infrastructure Solutions group last year.
Management is returning some of that cash flow to shareholders. It increased its annual dividend by 18% for the current fiscal year, and its board of directors approved a $10 billion increase in its share repurchase authorization.
The company says it is committed to returning at least 80% of its adjusted free cash flow to shareholders. It also plans to raise its dividend at least 10% annually through fiscal year 2028. That shareholder-friendly approach should make investors feel good.
Yet surging demand and a large and growing backlog for its AI servers are what really make it a good time to buy Dell stock. It has more runway ahead to ride the golden wave of AI along with Nvidia.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Howard Smith has positions in Alphabet, Amazon, Dell Technologies, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
In the rapidly evolving world of artificial intelligence, Chinese startup DeepSeek is emerging as a formidable player, prioritizing cutting-edge research over immediate commercial gains. Founded in 2023, the company has quickly gained attention for its innovative approaches to large language models, challenging the dominance of Silicon Valley giants. Unlike many U.S.-based firms that chase profitability through aggressive monetization, DeepSeek’s strategy emphasizes foundational advancements in AI architecture, drawing praise from industry observers for its long-term vision.
This focus on research has allowed DeepSeek to develop models that excel in efficiency and performance, particularly in training and inference processes. For instance, their proprietary techniques in sparse activation and optimized
Quebec artificial intelligence institute Mila has a new scientific director.
Hugo Larochelle started in the job today. He is the former head of Google’s AI research lab in Montreal and an adjunct professor at the Université de Montréal.
Mila framed Larochelle as ideal for the job because he has made significant contributions to the advancement of AI, while remaining committed to rigorous, open and socially beneficial science.
Larochelle says he will steer Mila to contribute to major scientific breakthroughs while ensuring its work contributes positively to society.
He takes over from Laurent Charlin, who had been in the job since Mila founder and AI pioneer Yoshua Bengio transitioned to the scientific adviser role in March.
Larochelle trained under Bengio at the Université de Montréal and later was a postdoctoral fellow at the University of Toronto under AI godfather Geoffrey Hinton.
This report by The Canadian Press was first published Sept. 2, 2025.
Across the country, public agencies face a common challenge: how to deliver vital services equitably in the face of limited resources, rising expectations, and increasingly diverse populations.
Traditional government service models — centralized, bureaucratic, and often paper-based — struggle to keep pace with the needs of rural residents, multilingual communities and military families, whose mobility and time constraints demand flexibility.
But a new generation of civic infrastructure is beginning to take shape, one that blends artificial intelligence with physical access points in the communities that need them most. Intelligent self-service kiosks are emerging as a practical tool for expanding access to justice and other essential services, without adding administrative burden or requiring residents to navigate unfamiliar digital portals at home.
El Paso County, Texas, offers one compelling case study. In June 2024, the County launched a network of AI-enabled kiosks that allow residents to complete court-related tasks, from submitting forms and payments to accessing legal guidance, in both English and Spanish. The kiosks are placed in strategic community locations, including the Tigua Indian Reservation and Fort Bliss, enabling access where it’s needed most.
Three lessons from this rollout may prove instructive for government leaders elsewhere:
1. Meet People Where They Are…Literally
Too often, civic access depends on residents coming to centralized locations during limited hours. For working families, rural residents and military personnel, that model simply doesn’t work.
Placing kiosks in trusted, high-traffic locations like base welcome centers or community annexes removes that barrier and affirms a simple principle: access shouldn’t be an ordeal.
At Fort Bliss, for example, the kiosk allows service members to fulfill court-related obligations without taking leave or leaving the base at all. In just one month, nearly 500 military residents used the kiosk. Meanwhile, over 670 transactions have been completed on the Ysleta del Sur Pueblo (also known as the Tigua Indian Reservation), where access to public transportation is a challenge.
2. Design for Inclusion, Not Just Efficiency
While technology can streamline service delivery, it can also unintentionally exclude those with limited digital literacy or English proficiency. Multilingual A.I. interfaces and accessible user flows are both technical features and equity enablers.
In El Paso County, 20% of kiosk interactions have occurred in Spanish. This uptake highlights the importance of designing systems that reflect the communities they serve, rather than assuming one-size-fits-all access.
3. Think Beyond Digitization and Aim for Democratization
Many digital transformation efforts focus on moving services online, but that shift often leaves behind those without broadband, personal devices, or comfort with navigating complex websites. By embedding smart kiosks in the public realm, governments can provide digital tools without requiring digital privilege.
Moreover, these tools can reduce workload for front-line staff by automating routine transactions, freeing up human workers to focus on complex or high-touch cases. In that way, technology doesn’t replace the human element, it protects and supports it.
The El Paso County model is not the first of its kind, but its thoughtful implementation across geographically and demographically diverse communities offers a replicable roadmap. Other jurisdictions from Miami to Ottawa County, Michigan are piloting similar solutions tailored to local needs.
Ultimately, the path forward isn’t about flashy tech or buzzwords. It’s about pragmatism. It’s about recognizing that trust in government is built not through rhetoric but through responsiveness, and that sometimes, responsiveness looks like a kiosk in a community center that speaks your language and knows what you need.
For public officials considering a similar approach, the advice is simple: start with the barriers your residents face, then work backward. Let inclusion, not efficiency, guide your design. And remember that innovation in public service doesn’t always mean moving faster. Sometimes, it means stopping to ask who’s still being left behind.
