Shares of Dell stock sold off over -18% in July. Much of the selloff was catalyzed by Silver Lake Technologies - a private equity firm and early investor in Dell that sold 2.5M shares this month very quickly, driving down the price.

Momentum traders and the pull back in AI-centric stocks as asset managers reallocated capital to less known parts of the market further catalyzed the selloff.

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The good news is the selloff seems to have subsided, and Dell is still at the center of a major global investment in data centers that is very much still developing. Recently, Elon Musk announced his AI chatbot, Grok, would be leveraging Dell servers for their data centers.

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Dell is also building an AI factory with Nvidia, which integrates hardware and software from both Dell and Nvidia to help enterprises with generative AI programs. Dell reports earnings on August 29th and has beaten expectations the last 4 earnings reports.