Soaring AI infrastructure demand is fueling a major backlog buildup, with billions of dollars of orders accumulating across AI servers, data-center equipment, networking and power infrastructure. AI Infrastructure Backlog: How Dell, HPE, SMCI, and GE Vernova Are PositionedThe revenue would be much larger than the company's PC business, suggesting the company is transitioning from being primarily associated with PCs and conventional enterprise hardware toward being a major AI infrastructure supplier. The company reported $1.8 billion of new AI systems orders in Q2 FY2026, taking cumulative AI systems bookings to $16.4 billion. AI systems backlog reached $5.9 billion, while total AI backlog, including Networks for AI, exceeded $6.3 billion. Super Micro Computer Inc. (NASDAQ:SMCI) has also entered a major AI infrastructure demand cycle, with its order book accelerating sharply in 2026.