Dell's outperformance is driven by its customer mix (sovereign AI, Neoclouds, Enterprise) avoiding hyperscaler exposure.

imagine we get a delicious 10% day and this company adds literally a Dell and a half. And I don't mean Adele the Singer. I mean Dell and another half of Dell.

Dell. Uh, we talked about this one earlier. I mean, really, I think they're they're taking advantage hookline and sinker of the open weight play. Uh, which is smart. Really smart. So, I uh I'm excited for them.

Like that's what Dell doesn't have. Dell for comparison uh isn't selling to the hyperscalers. They're selling to Neoclouds, sovereign uh and enterprise and uh Dell's performing better like diversifying away uh from that hyperscaler risk if there's risk in that maybe because there's the thesis that you know they'll stop spending at some point.

And honestly, that's one of the reasons Dell I think in my opinion is doing so well because Dell is not exposed to the hyperscalers. They're exposed to sovereign AI, Neoclouds, and Enterprise.

And I think that might be why Dell is performing better.