While overall demand was affected by economic uncertainty, the ISG business saw increased demand for AI-optimized solutions, with demand for AI-optimized servers outpacing supply of GPUs.

Following Broadcom's acquisition of VMware, Dell Technologies terminated the Commercial Framework Agreement, which is expected to reduce other businesses net revenue as VMware Resale is phased out.

Dell expects the demand environment to improve in Fiscal 2025, enabling net revenue growth for the full fiscal year, driven by AI-optimized servers and an anticipated PC refresh cycle.

Management implemented cost management measures, including limiting external hiring, employee reorganizations, and other actions to align investments with strategic priorities, resulting in a reduction in overall headcount.

The company focused on disciplined pricing and navigating through competitive pressures while maintaining an efficient supply chain, reducing product backlog from elevated levels.

The company continues to enhance its as-a-Service offerings, including Dell APEX, to provide customers with operational and financial flexibility.

The company's performance is affected by global economic conditions, which may negatively affect customer demand and result in decreased spending amid concerns over unemployment and slowing demand.

The company relies on several single-source or limited-source supplier relationships, and delays in supply could prevent timely shipment of products and impact product availability, delivery, reliability, and cost.

The company faces numerous sophisticated cyber threats, and security incidents could result in network intrusions, data breaches, and system disruptions, leading to potential liability and damage to brand and reputation.

The company faces aggressive offering and price competition from both branded and generic competitors, and new competitors may enter the market.

The company faces competition from large Infrastructure-as-a-Service providers, which may increase if customers move existing workloads to these providers.

The company competes based on its ability to offer customers competitive, scalable, and integrated solutions that provide the most current and desired product and service features at a competitive price.

The company's supply chain operated efficiently at standard lead times during Fiscal 2024, with demand for AI-optimized servers outpacing supply of GPUs.

The company implemented cost management measures, including limiting external hiring, employee reorganizations, and other actions to align investments with strategic priorities.

The company is focused on leveraging new technology to streamline systems and optimize business processes.

The company views its continued investment in AI and generative AI research and development as an opportunity to enhance its solutions and strengthen its competitive advantage.

Total R&D expenses were $2.8 billion for both Fiscal 2024 and Fiscal 2023, reflecting the company's commitment to innovation.

The company's software engineers are focused on developing the next generation of innovative solutions, leveraging artificial intelligence and machine-learning technology.

A substantial portion of the company's cash flow from operations is used to make interest and other debt service payments, which reduces funds available for other purposes.

On February 29, 2024, the Board of Directors approved a 20% increase in the quarterly dividend to a rate of $0.445 per share per fiscal quarter beginning in the first quarter of the fiscal year ending January 31, 2025.

The Board of Directors approved the repurchase of an additional $5 billion of shares of the Company's Class C Common Stock under the stock repurchase program, bringing the total authorized amount remaining to approximately $5.7 billion.

The company is committed to driving human progress by putting technology and expertise to work for people and the planet, with a focus on climate change and circular economy.

The company is committed to increasing gender and ethnic diversity throughout Dell Technologies and has set goals to achieve this by 2030.

The company seeks to drive responsible manufacturing through robust assurance practices, including human rights due diligence and environmental stewardship.

Global economic uncertainty adversely affected the demand for the company's products and services as some of its larger customers exhibited increased caution in their IT spending.

Geopolitical volatility, such as ongoing military conflicts and tensions across the Taiwan Strait, could harm the business by contributing to product shortages, supply chain disruptions, and reduced global sales.

International trade protection measures and disputes, such as those between the United States and China, could harm the business by contributing to product shortages or delays and increased product costs.