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Jim Cramer took to X, formerly Twitter, on Wednesday to discuss the common goals of Hewlett Packard Enterprise Co (NYSE:HPE) and Dell Technologies Inc (NYSE:DELL).
What Happened: According to Cramer, both companies HPE and Dell are aligning their strategies to benefit from Nvidia Corp‘s (NASDAQ:NVDA) advancements in technology, particularly in areas like artificial intelligence (AI), graphics processing units (GPUs), and data centers.
In his post, Cramer stated, “Commonality between $HPE and $DELL-they wanted to get right with Jensen ($NVDA).”
Nvidia, under the leadership of Jensen Huang, has become a key player in the tech industry, especially in AI and high-performance computing.
Why It Matters: Hewlett Packard Enterprise Co reported better-than-expected second-quarter financial results on Tuesday. Quarterly sales clocked in at $7.2 billion which beat the analyst consensus estimate of $6.823 billion. Hewlett Packard Enterprise reported quarterly earnings of 42 cents per share, which beat the analyst consensus estimate of 39 cents by 7.69%, according to data from Benzinga Pro.
Meanwhile, Dell Technologies has also been focusing on AI. Nvidia's CEO Huang emphasized the significance of their partnership with Dell in expanding AI technology’s reach. Huang noted that the partnership aims to provide comprehensive AI infrastructure, not just hardware.
Dell's recent first-quarter earnings report showed a 6% year-over-year increase in revenue, driven by its Infrastructure Solutions Group. Despite a slide in stock, Dell remains well-positioned to bring AI to the enterprise.
Price Action: According to Benzinga Pro, at the time of writing on Wednesday, Dell was trading at 0.17% lower at $135.53, while HPE was trading up 12.59% at $19.81. Nvidia was trading 2.49% higher at $1,193.32.
Image via Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
