Goldman Sachs updates server market outlook with Dell leading in share

Goldman Sachs has raised its 2030 server market forecast to $1.5 trillion, with AI servers expected to account for $1.3 trillion. Dell has seen its market share grow in both traditional and AI server segments, reaching 29% and 17% respectively. While the firm maintains buy ratings for Dell and HPE, it issued a sell rating for SMCI, citing concerns over the sustainability of market share in a sector increasingly dominated by chip manufacturers and white-label vendors.