Dell, Super Micro Rally After Elon Musk Denies $52B SpaceX-Foxconn AI Server Deal

DELL-3.73%
SMCI-1.48%
NVDA0.36%
Dell Technologies and Super Micro Computer gained 0.4% and 0.8%, respectively, in premarket trading on Monday after SpaceX CEO Elon Musk denied a report that the company had placed a $52 billion order with Foxconn for Nvidia-powered AI servers. According to Taiwan's Economic Daily, SpaceX was planning to purchase over 13,000 AI server racks at $4 million per rack. Musk called the report "fake news" on X. Dell and Super Micro, which have traditionally supplied servers to SpaceX, had declined 8% and 18%, respectively, in July before the denial.
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