Dell CEO Offloads $1.22 Billion in Shares Amid AI Demand Surge

Michael Dell, the CEO and founder of Dell Technologies, recently sold 10 million shares of his company for approximately $1.22 billion, marking his second significant sale within September.

A filing with the U.S. Securities and Exchange Commission revealed that, after this transaction, he retains over 16.91 million shares, valued at more than $2 billion.

This sale follows another major divestment on September 23, where he sold a similar quantity of shares, totaling about $1.17 billion.

Dell Technologies has seen a 58.5% increase in stock value this year and has re-entered the S&P 500 index as of September 24, reflecting the company’s strong performance amid rising demand for AI-related technologies and servers.

While the reasons behind Dell’s large stock sales remain unclear, the market’s reaction has been muted, with only a slight dip in share price following the announcements.

In a separate context, Dell has stirred interest on social media with hints regarding Bitcoin, although the company has not invested in the cryptocurrency as of its last quarterly report, which indicated a 9% year-on-year revenue growth, driven primarily by a substantial increase in server and networking sales.

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Alexander Stefanov

Reporter at CoinsPress

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