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Dell and HPE were the S&P 500's top performers following Oracle's earnings, which provided an upbeat read-through for hardware suppliers benefiting from AI infrastructure spending. RBC initiated coverage on Dell, noting the company sold about $16.4 billion in AI servers in its most recent quarter, pushing Dell's stock up nearly 350% in 2026. Analysts cautioned that continued gains may hinge on the Federal Reserve's coming interest-rate decisions.