Hewlett Packard Enterprise rallies 9% as AI server stocks surge on broadening hardware bid
HPE, Super Micro, and Dell all posted significant gains as investors piled into AI infrastructure plays, even without a fresh catalyst.
Hewlett Packard Enterprise surged 9.02% to $61.64 on September 17, leading a broad rally across AI server and hardware stocks that saw Super Micro Computer climb 6.08% and Dell Technologies gain 3.36%. The move came without any company-specific news.
The rally appears to be a continuation of momentum that started earlier in the week with gains across memory chip and semiconductor names.
The numbers behind the hype
HPE closed at $61.64, SMCI at $39.09, and Dell at $582.20.
The year-to-date numbers are where things get genuinely eye-catching. HPE has posted a 153% gain so far in 2026. Dell has surged 343%.
HPE’s fiscal Q3 2026 report showed record revenue of $12.2 billion, a 34% jump compared to the same quarter a year earlier. The company also raised its full-year growth guidance to 34-37%.
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Oracle projected capital expenditures of $90-95 billion for its fiscal year. Oracle also expanded its collaboration with HPE on AI data-center networking.
HPE’s positioning in the AI arms race
HPE’s Cloud & AI segment has emerged as its largest revenue driver. In the latest quarter, networking orders for AI reached unprecedented levels, with a reported backlog of $700 million.
Dell has leaned heavily into its AI server portfolio, winning large orders from hyperscalers and enterprise customers. Super Micro Computer and Dell have also reported robust AI server backlogs.