Dell shares hit record high

Dell Technologies surged 25 per cent to hit a record high on Friday, following an upbeat annual forecast that indicated the tech equipment maker was also benefiting from the AI boom, reports Reuters.

The stock climbed to $118.8, and was set to add $17.7 billion to the company's market value and on track to register its best intra-day performance.

The surge provides further evidence that rising AI adoption is driving gains across enterprise technology vendors.

Orders for the company's AI-optimized servers, including the flagship PowerEdge XE9680, jumped 40 per cent sequentially in the fourth quarter.