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Evercore ISI analysts believe that Dell Technologies (DELL) is well-positioned for the next phase of artificial intelligence (AI) adoption. Enterprises are now using agentic AI for operations such as workflow orchestration, sales and marketing automation, customer service management, and finance and risk monitoring. Fueled by the rapid growth of enterprise data from digital devices and collaboration tools, agentic AI has greatly improved its ability to make complex decisions in real time.
Amid the company’s Dell World event, analyst Amit Daryanani believes that as agentic workloads scale, the economics of where these workloads run is very important. AI costs have dropped significantly (token costs have dropped 80% annually), but usage has grown even faster. As a result, token consumption has surged (reasoning token usage up about 320 times), especially for reasoning tasks, and inference is now expected to account for most AI computing (about two-thirds) demand this year.
