I'm LongbridgeAI, I can summarize articles.Nvidia and Dell stocks rose in pre-market trading on October 1, driven by Micron's strong Q4 results indicating sustained AI data center spending. Nvidia benefited from broader chip sector gains, while Dell surged due to a specific catalyst: a $15 billion AI infrastructure partnership with JERA and RHAELM in Japan.
Nvidia (NVDA) and Dell Technologies (DELL) stocks are rising in pre-market trading on Thursday after Micron Technology (MU) reported better-than-expected fiscal Q4 results. Nvidia and Dell stocks are up about 0.91% and 1.23%, respectively. Other chip stocks, including Intel (INTC), Advanced Micro Devices (AMD), and Broadcom (AVGO), are also trading higher.
However, Micron stock is down about 0.69% in pre-market trading despite the strong results. Investors are weighing the company's higher FY27 capital spending and softer near-term gross-margin guidance. The stock's sharp rally also left high expectations heading into the report. Micron stock has gained 485% year-to-date.
Micron reported $54.23 billion in revenue and adjusted EPS of $33.42, beating Wall Street estimates. The results pointed to continued spending on AI data centers. Memory is a key part of AI servers, so Micron's results offer a read on demand across the wider data center supply chain.
Dell Has a Company-Specific Catalyst
Dell has a company-specific catalyst supporting its stock today. The company is working with Japan's largest power generator JERA and AI infrastructure developer RHAELM on a new AI infrastructure project.
The first project will be built in Chiba. It is expected to require more than $15 billion and have up to 400 megawatts of power capacity. Dell will provide the computing systems. JERA will supply the power, while RHAELM will develop the data center.
The companies also plan to explore similar projects at other JERA sites. Their goal is to support several gigawatts of AI infrastructure across Japan in the 2030s.
Nvidia Benefits From Continued AI Spending
Nvidia does not have a new company-specific catalyst today. Instead, NVDA stock is rising with the broader chip sector after Micron's strong results.
Micron's results show that data center firms are still spending on AI. That benefits Nvidia because its GPUs are used to run AI workloads in data centers.
Micron also expects memory supply to stay tight through 2028. Strong demand for AI servers means continued demand for the chips and memory used in these systems, which supports Nvidia's data center business.
Which AI Stock has the Highest Upside, According to Analysts?
Using TipRanks' Stock Comparison Tool, we compared Nvidia, Broadcom, AMD, Intel, Dell, and Micron based on Wall Street analyst forecasts. Nvidia, Broadcom, AMD, and Micron have Strong Buy ratings, while Dell has a Moderate Buy rating and Intel has a Hold rating. Broadcom has the highest analyst upside at 47.84%, followed by Micron at 42.10% and Nvidia at 42.01%. Intel's average price target implies 2.22% downside.