Dell Technologies stock soared 5% on Friday after a report claimed the company is close to agreeing a deal to sell its servers to Elon Musk's xAI.
People familiar with the matter said, as cited by Bloomberg, that Dell is nearing a deal worth over $5 billion to sell servers optimized for artificial intelligence work and containing Nvidia's GB200 semiconductors to xAI before the end of the year.
Dell shares rallied 5.52% to $116.35 apiece at 1:21 pm ET.
