From Dell to Oracle, Legacy Tech Stocks Soar by Tapping Into AI Buzz
- Legacy tech companies see gains from budding AI business
- The stocks are much cheaper than Nvidia or Super Micro
Legacy companies better known for computers and servers than for new-fangled products are seeing stock values soar.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
This time, it actually is your dad’s tech rally.
Legacy companies better known for computers and servers than for new-fangled products are seeing stock values soar, fueled by encouraging signs in their nascent artificial-intelligence businesses. Shares of International Business Machines Corp., Oracle Corp. and Dell Technologies Inc. have risen 17-to 49% this year, equaling or outpacing the Bloomberg Magnificent 7 Index, which measures the performance of prominent tech stocks.