DRAM shortages are limiting Dell’s AI-server deliveries

Dell’s AI-server deliveries are already being limited by DRAM shortages, and the bottleneck is expected to worsen in 2027. AI infrastructure is absorbing memory supply faster than new fabs can add capacity, leaving server demand exposed to a component constraint rather than a lack of orders.

Michael Dell said Dell has roughly $95 billion in AI-server backlog tied to more than 6,500 AI customers. Meaningful supply relief is pushed toward 2029 or 2030.