Wall Street saw a historic session as AI infrastructure demand propelled multiple tech stocks to record highs. NetApp (NTAP) surged approximately 33% on Friday, trading above its dot-com era peak of $148.63 and reaching around $189. The move followed fiscal Q4 revenue of $1.95 billion (up 12.5% YoY, beating estimates) and a bullish FY2027 guidance of $7.33–$7.58 billion against a $7.20 billion consensus. CEO George Kurian credited the company’s cloud intelligent data infrastructure platform for powering AI-driven workloads at enterprise scale.
Simultaneously, Dell Technologies stunned the market with quarterly revenue of $43.8 billion, an 88% YoY increase. AI-optimized server revenue hit $16.1 billion, and AI-related orders reached $24.4 billion, pushing its total AI server backlog past $51 billion. Dell raised its fiscal 2027 AI revenue forecast from $50 billion to $60 billion, sparking a 30%+ share rally and multiple analyst upgrades. Salesforce also gained on strong enterprise AI demand, while Hewlett Packard Enterprise and Super Micro Computer followed the AI infrastructure optimism.
The broader market indices surged, with the Dow Jones Industrial Average crossing 51,000 for the first time and the S&P 500 and Nasdaq hitting fresh records. The euphoria underscores a massive rotation into AI hardware and software names, as investors increasingly view AI spending as a sustained growth cycle rather than a short-term fad.
While the news directly pertains to equities, the crypto market could feel indirect effects. Historically, risk-on rallies in major tech stocks have accompanied a rise in appetite for digital assets. The AI boom may rekindle interest in blockchain projects focused on artificial intelligence, decentralized compute, and data storage, though no immediate direct catalyst for cryptocurrencies is present. AI-related tokens are likely to draw attention if the equity rally continues, given the narrative overlap between AI and Web3 infrastructure.
