Hewlett Packard Enterprise posts record quarter on AI demand
Hewlett Packard Enterprise (HPE) just posted its best-ever second quarter, with revenue jumping 40% to $10.68 billion, easily beating Wall Street's predictions.
The big driver? Huge demand for servers and networking gear powering artificial intelligence (AI) tools like ChatGPT.
Profits also topped estimates, thanks in part to smart pricing moves last year.
HPE raises goals amid $6.3B backlog
With all this momentum, HPE has raised its goals for the next few years, now aiming for up to 33% revenue growth by 2026 and a major boost in networking sales.
Chief Financial Officer Marie Myers pointed out more than $6.3 billion in total AI backlog, expecting even more action later this year.
Investors are clearly excited too; HPE's stock shot up 36% after the news, showing real confidence in the company's AI-powered future.