Dell Technologies Goldman Sachs Communacopia + Technology Conference 2026

Thanks for having me. Great to be here.

I think we're in this sort of gradual process where more and more organizations are figuring out that AI is incredibly powerful in terms of reimagining how they achieve outcomes in their business. It's a multi-speed world. Not everybody's going to go at the same speed. It is quite evident that this is very different than the technology of the past. We had sort of calculating and computing, and now we have intelligence. The data that exists inside companies is being unlocked and unleashed in a new way. They're sort of in this process of figuring out that they have to reimagine their companies. We started this about three years ago. I would say maybe 10% or 15% of companies understand that this is a really important thing, and they have to go do it.

A lot of them are very confused about what to do, how to do it. There's an easy first phase of this, which is you just give individual people better tools, and they can be more productive in doing whatever they were doing. Maybe they could do it 10% better or 20% better. That's kind of extraordinary in and of itself, but that's not really the plot. The real opportunity is reimagining the whole workflows. What you have to do is map out every single process in a company and then simplify, standardize the process, get all the data together, and then come to the last step is you're applying AI. Also understanding that the AI today is pretty extraordinary, but it's also the worst that it'll ever be.

It's improving, and you can apply agent technology to replace a lot of the workflows that used to be done by humans, so it can be done way faster. So you're innovative, more innovative, you get speed. I would say we're really at the very beginning of that in most companies. They don't know how to do it. It's hard. It's also the barrier to adopt technology. It's not technology. It's people, it's cultures, it's regulation, it's courage, and it'll take time. We are seeing with these 6,500 Dell AI factories in enterprise, we're kind of in this S-curve adoption.

Right. As customers go through this, they begin to understand that it's not one size fits all, and you really want to have the AI as close to the data as possible. If you're in advanced manufacturing, you want your AI in the factory. If you've got a restaurant chain, you want your AI inside the restaurant, retail stores, logistics. You've got this wide variety of small models, large models, open models, closed models. We're bringing the frontier models on-prem. For your most valuable data, your proprietary data, your hard-fought knowledge that only you have inside your company, you don't want to send that off to somebody else. We're seeing tons of this infrastructure being built around solving that problem. But again, it takes some time to organize all that, pick the right models, and this is what we help our customers do.

We have hundreds of reference platforms starter kits, blueprints, and a variety of partners in all sorts of verticals. We can help customers kind of get going here. But it takes time. There's an instinct to want to just say, "Okay, I press a button, now I have AI," right? It's way more complicated than that.

Well, by various estimates, 85% of data is still on-prem.

Okay. Right? Yes, the cloud is a real thing, no denying that, but it's really more of a hybrid multi-cloud.

If you think about it, most of the data in the world is going to be created in the future. Again, as we adopt AI and Agentify, we create way more software. We're creating more data, and it's all happening in real-time. Again, you want the AI as close to the data as possible. So, this is kind of what we're building out. Of course, with enterprise, we have more opportunity to architect the full solution. You need more CPUs because of agentic behavior, obviously data storage, where we have a leading position, networking has to be re-architected. The frontier models also want to come on-prem with us.