Tech Sector Surges: Dell Technologies (NYSE: DELL) and AI Stocks Drive Market Gains

Font: Financial Modeling Prep  • Aug 12, 2026

• Dell Technologies (NYSE: DELL) led the tech sector's strong performance, with its AI server business growing by an impressive 757%.
• Several other technology companies, including Nokia (NYSE: NOK), Hewlett Packard Enterprise (NYSE: HPE), Resideo Technologies, Inc. (NYSE: REZI), and Oracle Corporation (NYSE: ORCL), also posted significant gains.
• The market's positive movement was largely attributed to increasing demand for AI infrastructure and strategic corporate developments.

The technology sector shows strong performance today, with several companies posting significant gains. Dell Technologies (NYSE: DELL) leads the pack, with its stock climbing $43.52 to close at $484.49, a 9.87% increase. The shares traded actively between $455.00 and $484.68, nearing the company's 52-week high.

Dell's growth is tied to its role in artificial intelligence. As highlighted by 24/7 Wall Street, its AI server business grew by 757%, making it a key player in AI infrastructure. Following this trend, Nokia (NYSE: NOK) also saw its stock rise by $0.90 to $10.34, a 9.48% gain for the day.

While Nokia's stock slumped 28.7% over the last three months, its recent gain is notable. Zacks Investment Research suggests that growing demand for AI and networking could fuel a recovery. Similarly, Hewlett Packard Enterprise (NYSE: HPE) advanced 8.11%, with its stock closing at $58.79 after a $4.41 increase.

Hewlett Packard Enterprise's positive movement is supported by an upgrade from Zacks Investment Research to a "Zacks Rank #2 (Buy)." This rank suggests analysts are optimistic about its future earnings. Resideo Technologies, Inc. (NYSE: REZI) also rose 6.02% to $25.70, following news of a new Chief Financial Officer appointment, as highlighted by PRNewsWire.

Oracle Corporation (NYSE: ORCL) increased by 5.33% to $153.23, driven by a new partnership with Quantinuum. As highlighted by Investors Business Daily, the company is also considering layoffs as it shifts investment toward AI. These gains highlight a strong focus on AI and strategic company updates driving market performance.