Dell Technologies recorded its fastest revenue growth in more than seven years since returning as a listed company, helped by higher AI server sales. After the results release, Dell shares rose 38 percent in after-hours trading.

SiliconANGLE reported on May 28 that Dell's first-quarter revenue was $43.84 billion, up 88 percent from a year earlier. Adjusted earnings per share, excluding certain costs, was $4.86.

Both revenue and net income beat expectations.

The AI server business led the growth. Dell's first-quarter AI server revenue surged 757 percent to $16.1 billion. The company also raised its annual AI server revenue outlook to above $60 billion from $50 billion.

The company said the number of AI server customers exceeded 5,000 as of the end of the first quarter, including neo-cloud providers, national-level customers and large companies.

By segment, revenue at the Infrastructure Solutions Group, which handles servers and data center hardware, rose 181 percent to $29 billion.

Dell raised AI server prices in January to reflect higher costs from memory shortages. Jeff Clarke (제프 클라크), Dell's vice chairman and chief operating officer, said server prices are being repriced almost daily and customers are feeling the burden.