10 Unsexy AI Stocks According to Goldman Sachs

2. Dell Technologies Inc. (NYSE:DELL)

Number of Hedge Fund Holders: 88 

Dell Technologies Inc. (NYSE:DELL) designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services. Jeff Clarke, the COO of the firm, spoke at the Communacopia and Technology Conference earlier this month, giving his opinion on the transformative nature of AI technology and how it compared to tech revolutions of the past. Clarke provided some context first, noting that it took 50 years for all US households to get electricity, roughly 30 years to get a 90% adoption rate for the Internet, 35 years to get adoption of PCs to 90%, and 25 years for phones to make it to 90%. AI, per Clarke, was moving faster than anything previously seen in the tech world. One example cited was of his own firm.

Clarke, who has been at Dell Technologies Inc. (NYSE:DELL) since 1997, noted how a year ago in Q2, his firm had essentially 0% revenue from AI. In the most recently reported Q2, however, 40% of the server and networking revenues for Dell had been AI revenues, per the executive. He remarked that AI was moving incredibly fast, as in the last 12 months or four quarters, his company had sold nearly $9.5 billion of AI infrastructure and shipped $6.5 billion of AI infrastructure.