Eli Lilly and Dell Technologies see market activity driven by drug sales and AI demand

Eli Lilly is facing speculation regarding a potential stock split following a period of significant growth. The company's second-quarter revenue increased by 48% year-over-year, driven largely by strong sales of its weight-loss drugs, Mounjaro and Zepbound. While the stock price has reached levels near $1,280 per share, the company has not officially announced a split, though its last one occurred in 1997.

Dell Technologies saw its shares rise by 1.7% amid positive sentiment regarding its role in AI infrastructure. Analysts have identified the company as a potential beneficiary of increased investment in AI data centers, specifically for servers, networking, and storage. Dell is also targeting growth in AI storage with its ObjectScale system and has entered a memorandum of understanding with Emarat to accelerate AI adoption and digital transformation.