Shares of Dell Technologies Inc. (NYSE: DELL) gained significantly during the trading session after analysts at Melius Research and Citigroup raised their price targets, citing increasing demand for the company’s AI servers. Positive expert forecasts pushed the IT giant’s stock to a new 52-week high amid a broader rally in the technology sector.

Dell’s share price rose by 3.1% during trading, reaching $212.12 per share. Analysts at Melius Research increased their price target from $200 to $245, while Citigroup adjusted its target to $235, maintaining a “Buy” rating. Since the beginning of the year, the company’s capitalization has increased by an impressive 66%.

Market optimism is fueled by two key factors: Dell is actively capturing market share in AI server hardware due to rising corporate spending. Additionally, the situation surrounding competitor Supermicro, which is facing charges from the U.S. Department of Justice, has created an opportunity for Dell to attract major new clients.

Dell is showing high resilience despite general market volatility: over the past year, the company’s stock has made more than 20 moves of over 5%. Investors who put $1,000 into Dell shares five years ago would now have $2,092 in capital, confirming the company’s status as a leader in the artificial intelligence infrastructure race.