HPE posts record revenue and says it received a multi-billion-dollar AI inferencing deal

On 2 September 2026, HPE reported fiscal third-quarter results with revenue of $12.2 billion, up 34%, and raised its full-year outlook. On the earnings call its chief executive said that after quarter end HPE was awarded a multi-billion-dollar server deal with a hyperscaler customer designed for inferencing. The company also said orders for AI systems were $2.4 billion and that the AI systems backlog rose 14% sequentially to a new high. The customer was not named. Asked about it, the chief executive said it is "a hyperscaler customer, but think about them as an enterprise customer who is going to use our AI inferencing for their own internal usage." We file this because it is a company-confirmed result and award. How we read it: HPE says demand for its AI servers is strong, but the buyer and exact value are not public, and the chief executive describes the award as for the buyer's own internal use. What would change this: a guidance cut or the award being reduced. Why it matters to you: it shows large cloud companies are ordering more of the servers that run AI.