# Dell Technologies sees bullish outlook amid AI and non-AI server demand > Source: > Published: 2026-06-16 11:26:17+00:00 # Dell Technologies sees bullish outlook amid AI and non-AI server demand A $1.6 billion deal with Bitcoin miner IREN highlights how crypto companies are becoming major buyers of AI server hardware Dell Technologies just posted the kind of quarter that makes Wall Street forget every boring earnings call that came before it. The company raised its full-year AI server revenue guidance to roughly $60 billion, up from an earlier estimate of $50 billion, after booking $24.4 billion in new AI orders during Q1 of fiscal year 2027. Shares surged as much as 30-40% in after-hours trading. ## The numbers behind the surge Dell shipped $16.1 billion worth of AI servers during the quarter, building up a record AI backlog of $51.3 billion. The company also bumped its overall revenue projection to approximately $167 billion for fiscal year 2027. Tech giants in the US are expected to commit over $700 billion to AI infrastructure spending in 2026 alone. Goldman Sachs has projected that AI server spending could reach around $1.24 trillion by 2030. ## Bitcoin miners are buying AI servers now On May 27, 2026, just a day before Dell’s earnings release, Bitcoin mining company IREN signed a $1.6 billion deal with Dell to acquire air-cooled Nvidia Blackwell systems. The purpose: expanding its AI cloud business. IREN isn’t an isolated case. Hive Digital Technologies has similarly been building out AI operations, and the broader trend of crypto miners transitioning into AI compute providers has been accelerating for over a year. These companies already own massive power infrastructure and cooling systems designed for compute-intensive workloads, and crypto mining operations and AI data centers share similar infrastructure requirements: cheap electricity, robust cooling, high-density rack configurations, and proximity to power substations. ## What this means for investors Dell’s $51.3 billion AI backlog is a forward-looking indicator of how much capital is flowing into physical AI infrastructure right now. For crypto-native investors, the IREN deal is worth watching closely. A $1.6 billion hardware commitment represents a significant bet that AI compute revenue can exceed or at least complement Bitcoin mining economics. The competitive landscape is also shifting. Dell isn’t the only company chasing AI server revenue. Super Micro Computer, HPE, and Lenovo are all competing for the same hyperscaler and enterprise contracts. **Disclosure:** This article was edited by Editorial Team. For more information on how we create and review content, see our [Editorial Policy](https://cryptobriefing.com/editorial-policy/).