President Trump praises Dell during market opening, shares rise 4.4%

The president told attendees to buy Dell computers and said the couple had contributed to his namesake investment accounts for children. Dell shares rose as much as 9% intraday before closing up 4.4%.

Pattern of endorsements Trump has endorsed Dell on three trading days this year.

Michael Dell's estimated paper wealth increased by hundreds of millions to billions of dollars on those days, according to closing stock prices.

Contract and performance data The Department of Defense awarded Dell a five-year contract worth up to $9.7 billion for Microsoft software licensing on May 27. Dell reported $24.4 billion in AI orders and $16.1 billion in AI server revenue after its most recent quarter. The company raised its full-year AI server revenue forecast to roughly $60 billion.

Ethics concerns raised Richard Painter, who served as chief White House ethics lawyer under former President George W. Bush, told Fortune that presidential endorsements of specific companies violate long-standing federal standards. Painter said the rule has applied across both Republican and Democratic administrations for decades.

The White House described the Dells as patriots contributing to accounts for working-class children. Dell did not respond to a request for comment.