TMTB: DELL MDB MRVL First takes

DELL -13%: Revenue beat but AI backlog of $3.8B misses more bullish bogeys of $4.5B vs. street at $3.5B

AI backlog the main KPI here and came in light which is hitting the stock. Move seems pretty justified to me here given big run up as expectations got ratcheted up.

"Servers and networking hit record revenue in Q1, with our AI-optimized server orders increasing sequentially to $2.6 billion, shipments up more than 100% to $1.7 billion, and backlog growing more than 30% to $3.8 billion."

Details:
- Infrastructure Solutions Group net revenue $9.23B, +22% y/y, EST $9.06B
- Servers and Networking revenue $5.47B, EST $4.89B
- Storage revenue $3.76B, EST $3.98B
- ADJ EPS $1.27 vs. $1.31 y/y, EST $1.23
- Total net revenue $22.24B, EST $21.62B
- Client Solutions Group net revenue $11.97B, -0.1% y/y, EST $11.51B
- Commercial revenue $10.15B, EST $9.66B
- Consumer revenue $1.81B, EST $2.06B
- ADJ operating income $1.47B, EST $1.48B