Nokia, Dell and Lenovo Surge as AI Infrastructure Boom Revives 1990s Tech Names
Updated
Updated · Bloomberg · May 31
Nokia, Dell and Lenovo Surge as AI Infrastructure Boom Revives 1990s Tech Names
6 articles · Updated · Bloomberg · May 31
Nokia, Dell Technologies and Lenovo shares jumped as investors poured into older hardware-focused tech companies tied to the AI buildout.
Soaring AI infrastructure spending is driving demand for servers, storage parts, networking gear and even legacy chips, lifting companies with exposure to those categories.
The rally has spread beyond newer AI favorites to iconic 1990s-era names, reviving several former dot-com leaders once overshadowed after the bubble burst.
Bloomberg said the move has even swept up members of the old "Four Horsemen" cohort, underscoring how broad the AI spending wave has become.
Is the AI hardware boom creating a new tech bubble reminiscent of the dot-com era?
Can our strained power grids and water supplies truly support the colossal energy demands of the AI revolution?
Legacy Tech Giants Surge 40% Amid $700B AI Infrastructure Boom: Nokia, Dell, and Lenovo Lead the Revival
Overview
In 2026, established technology companies have made a remarkable comeback by pivoting to become key enablers of the artificial intelligence revolution. This resurgence is driven by a massive global investment in AI infrastructure, which has rapidly expanded over the past six months. Companies that once seemed to be fading are now experiencing historic rallies, fueled by surging demand for the foundational hardware needed to build and operate AI data centers. As global demand for AI servers, storage, and networking equipment escalates, market analysts have noted a significant supply deficit, highlighting the critical role of these legacy players in powering the next wave of technological innovation.