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Dell Technologies is a global technology company that provides a broad and innovative solutions portfolio aimed at helping customers modernize their IT infrastructure and address workforce transformation . The company is organized into two main business units: the Infrastructure Solutions Group (ISG) and the Client Solutions Group (CSG) . Dell sells a range of products, including storage solutions, servers, networking solutions, branded PCs, peripherals, and third-party software .
- Client Solutions Group (CSG) - Provides branded PCs, including notebooks, desktops, and workstations, along with branded peripherals and third-party software. Offers services such as configuration, support, and extended warranties .
- Infrastructure Solutions Group (ISG) - Enables digital transformations with solutions that address AI, machine learning, data analytics, and multicloud environments. Offers a comprehensive storage portfolio, including all-flash arrays and hyper-converged infrastructure, as well as a server portfolio with high-performance and AI-optimized servers. Includes networking solutions .
- Other Businesses - Engages in the resale of VMware products and services, integrating VMware products with its offerings, reflecting these results within ISG or CSG depending on the nature of the offering .
- Despite a growing AI server backlog of $4.5 billion, AI server revenue is expected to be slightly down quarter-over-quarter; can you clarify if this is due to the shift towards Blackwell, component availability, or other factors, and how you plan to address these issues?
- With the move to NBL systems featuring up to 72 GPUs per server, and given the higher GPU content that's harder to mark up, how should we think about the evolution of gross profit dollars and margins in your AI server business?
- As enterprise and large customers become more cautious with PC and storage spending, particularly in your highest margin storage products, can you provide clarity on your expectations for storage growth next year?
- You previously expected AI server sales to drive storage and services demand, but this hasn't materialized as anticipated; can you explain why storage demand hasn't matched AI server growth and what steps you're taking to capitalize on this opportunity?
- With your key customers migrating AI platforms from Hopper to Blackwell and potential shifts from HGX to DGX and MGX platforms, what are your underlying assumptions for the platform mix, and how might this impact your AI server business strategy?