Dell Technologies (NYSE: DELL) and Super Micro Computer (NASDAQ: SMCI) each edged higher in early premarket trading on Monday, recovering from overnight losses triggered by a widely circulated report.
The report, originally published by Taiwan’s Economic Daily, claimed that SpaceX had placed a $52 billion order with Foxconn for Nvidia-powered AI servers.
According to the report, the deal involved more than 13,000 AI server racks powered by Nvidia’s GB300 chips, priced at $4 million per rack.
SpaceX CEO Elon Musk moved quickly to shut down the speculation, responding on X to a now-deleted post summarizing the alleged agreement.
“This is fake news,” Musk said, dismissing the reported deal in a direct public statement on the platform.
Dell gained 0.4% and Super Micro rose 0.8% in premarket trading after Musk’s denial helped calm investor concerns about a potential loss of a major customer.
Both companies have traditionally supplied AI servers to SpaceX, meaning a Foxconn contract of that scale would have represented a serious competitive blow.
A Foxconn win would also have marked a significant push by the Taiwanese manufacturer into the North American cloud and AI infrastructure market.
Before Musk’s denial circulated widely, Citrini analyst Jukan wrote that Foxconn had displaced Dell and Super Micro, adding that deliveries were expected to begin in late 2026 and continue into the first quarter of 2027.
Dell and Super Micro have both faced selling pressure in recent weeks, as investors rotated out of AI-linked highfliers and into Big Tech and software names.
Dell is down 8% in July alone, while Super Micro has fallen approximately 18% over the same period, reflecting broader caution around the AI infrastructure trade.
On Stocktwits, retail sentiment was tracked as neutral on Dell and bearish on Super Micro, even as some traders continued to discuss the SpaceX-Foxconn report as though it remained valid.
“$DELL is one of the names I’m watching closely in the AI infrastructure trade… $DELL has been holding up better than many names in the group, showing buyers are still defending the trend,” one trader wrote.
The same trader added: “The AI trade will have winners and losers. The leaders are usually the ones that refuse to break when the market gets shaky.”
Another Stocktwits user took aim at short sellers on Super Micro, writing: “$SMCI I’m sure the bears are having panic attacks right now! They expected down 5% premarket lol.”
Despite recent volatility, both Dell and Super Micro remain central players in the AI server supply chain, benefiting from sustained enterprise and cloud provider demand for data center infrastructure.
