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Dell and Super Micro shares rose on June 20, 2024, after announcements linked both companies to servers for xAI’s Grok. Dell CEO Michael Dell said Dell was building an “AI factory” with Nvidia to power Grok, and Elon Musk said Super Micro Computer would also provide servers. The reports did not disclose a signed contract value, a final split between suppliers, or a delivery schedule.
What Dell and Super Micro were reported to supply
Dell told Bloomberg that xAI would use its PowerEdge XE9680 servers. Michael Dell wrote, “We’re building a Dell AI factory with Nvidia to power Grok for xAI.” Musk said Super Micro would also provide servers. In the contemporaneous report, Super Micro had not immediately responded to a request for comment, so the report did not include a direct company confirmation from Super Micro.
The reported announcement established a link between the companies and xAI’s server buildout, but it did not spell out the final equipment configuration or how many servers each supplier would provide.
What the analyst estimate did—and did not—say
Bloomberg Intelligence analyst Woo Jin Ho estimated that Dell’s servers were likely to make up half the server volume, with the rest coming from Super Micro. That was an analyst assessment, not a disclosed allocation agreed by the companies.
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Ho also said that if the deployment were for Grok 3, which he said needed 100,000 Nvidia H100 GPUs, the deal might be worth $3 billion, assuming a price of $1 million per AI-server rack. The figure was a conditional scenario, not a reported contract amount. The contemporaneous report did not disclose final deal value, supplier shares, or a delivery timetable.
Why the stocks moved—and what the figures mean
The shares reacted during the June 20, 2024 trading session, when investors weighed the possibility of a large AI infrastructure project. Gulf News’ Bloomberg report said Dell was up about 1% at $150.63 at 10:56 a.m. in New York, after rising as much as 8.3% earlier. Super Micro was up 8.2% at $995.45 after an earlier jump of 10%. Nvidia had gained 2.5% to $138.94 at the time reported. These are historical intraday figures, not current share prices or returns over a full trading day.
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The prospect of substantial server demand offered a potential growth opportunity for the suppliers, while Nvidia’s chips were central to the proposed AI computing capacity. But the reported price action alone does not establish how the project affected any company’s later results or share performance.
What “AI factory” means in this story
In the June 2024 announcement, “AI factory” described infrastructure being assembled to power xAI’s Grok; the available report did not define a final xAI system design. Later vendor materials use the term more broadly:
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- Dell: In an October 2024 announcement, Dell described its AI Factory as an enterprise portfolio spanning infrastructure, solutions, and services, including PowerEdge server options and deployment support. That later description provides context for Dell’s product language; it does not confirm xAI’s final configuration. Dell’s October 2024 announcement.
- Supermicro: In an August 2025 white paper, Supermicro described Data Center Building Block Solutions for NVIDIA Enterprise AI Factory validated designs, including data-center design consultation, solution validation, and professional onsite deployment services. Supermicro said the approach could reduce typical deployment timelines from 12–18 months to as little as three months; this is a vendor claim about its offering, not a measured xAI project outcome. Supermicro’s white paper.
What investors can take from the report
The news connected two server suppliers with a high-profile AI buildout and prompted an immediate market reaction. For investors, the key distinction is between the reported supplier involvement and the analyst’s projected scale: the former was attributed to Dell and Musk, while the possible half-and-half split and $3 billion value were estimates with explicit assumptions. The report does not establish a contract’s final economics or delivery progress.
The same article reported that xAI had raised $6 billion in venture capital funding in May 2024 at a pre-money valuation of $18 billion. That financing figure offers context for the scale of the company at the time, but it is not evidence that xAI committed $3 billion to these suppliers.
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