Dell shares climbed Monday after President Donald Trump publicly encouraged Americans to buy the company's computers during an event at the White House.
Speaking about Trump Accounts, Trump praised Dell founder Michael Dell and his wife, Susan Dell, for contributing $6.25 billion to the program before telling reporters, "Go out and buy a Dell computer." He added that one of his sons is a fan of Dell laptops.
Dell stock rose as much as 9% during trading before closing about 4% higher, extending an impressive rally that has seen the shares gain roughly 230% this year.
The company's surge has largely been driven by strong financial results and growing demand for AI infrastructure. Dell recently reported a record $43.8 billion in quarterly revenue, up 88% from a year earlier.
The move is also the latest example of the so-called "Trump effect," where companies see their shares rise after receiving public praise from the president. Intel has also posted strong gains this year following repeated endorsements from Trump.
Several major technology companies, including Dell, Intel, Micron, Nvidia, and SpaceX, have also backed the Trump Accounts initiative through financial contributions or stock donations.