$DELL earnings

Dell posted explosive, headline-grabbing revenue growth driven by AI server sales, but the underlying economics show that the vast majority of that new money acts as a pass-through to component suppliers (like Nvidia, AMD, and memory manufacturers). ## The Q1 FY2027 Revenue Jump Compared to the same quarter last year, Dell's total revenue grew by an incredible 88%. However, their **Cost of Sales**—the line item that includes processors, GPUs, high-density memory, and other manufacturing material