Dell’s origin story is well-known in the computer business. He started selling PCs out of his dorm room at University of Texas at Austin at age 19. Four decades later, he’s still running the $79 billion Texas-based maker of laptops, servers, and more. His longevity and ability to reinvent the company multiple times over, is the focus of my just-published story for Fortune (which also covers the CEO’s epic battle with activist investor Carl Icahn, who told me he welcomes “Dell’s hatred”). 

While Dell and his namesake company don’t tend to generate buzzy headlines like some of his peers, the hardware behemoth seems well-positioned to capitalize on the latest craze in technology: AI. Orders for AI-optimized servers were up 40% in Dell Technologies’ most recent quarter, and the company’s future guidance helped raise its stock to an all-time high of more than $131 in early March. 

To be sure, separating hype from reality when it comes to AI is tricky business. But Dell, the founder, has done it before, repeatedly pivoting his company to meet his corporate customers’ changing demands. And 40 years after founding the PC maker, he’s just 59, meaning he’s still got many years to go—if that’s how he chooses to spend his time. (Fun fact: Dell’s long-time friend and fellow founder-CEO, Marc Benioff, says Dell has recently taken up hunting with a bow and arrow.) 

So what’s the secret of Dell’s longevity? When I asked him, the founder-CEO had a straightforward explanation: “There’s a simple part of this, which is, you just don’t quit.” That—and owning 53% of your company’s shares—will do it.  

You can read my full story here.

Michal Lev-Ram
michal.levram@fortune.com

TOP NEWS

Not ready for hybrid work

Hybrid roles now make up over half of all job postings, according to Gallup data, but companies aren’t adapting to the new hybrid office. Just a quarter of companies have trained their managers to handle hybrid teams, says a new survey from software company TechSmith and research firm Global Workplace Analytics. Kate Lister, president of Global Workplace Analytics, says that managers need to set clear targets to stop workers from feeling disconnected and disengaged. Fortune

Instability AI

Emad Mostaque resigned as the CEO of AI startup Stability AI, the developer behind image-generating program Stable Diffusion. Investors are pressuring the startup’s management on its financial performance, with one backer, Coatue Management, calling on Mostaque to leave. Mostaque, who also left Stability AI’s board, now says he’ll focus on countering centralization in the AI space. Bloomberg

China’s little red book is in the black

Xiaohongshu, the Instagram-like Chinese social media platform, has earned its first profit. The app earned $500 million in net profit in 2023, compared to a $200 million loss the year before, according to people briefed on the company’s financials. Xiaohongshu, which translates to “little red book,” is popular among young women in China, making it an essential marketing channel for brands there. Financial Times

AROUND THE WATERCOOLER

As critics trash Boeing, the outspoken CEO of Ryanair emerges as an unlikely defender by Shawn Tully

A former hedge fund executive assistant tells all by Jessica Mathews

Bentley CEO says sales are down because the rich are experiencing ‘emotional sensitivity’ due to the cost of living and don’t want to flaunt their wealth with a new luxury car by Christiaan Hetzner

Ozempic maker Novo Nordisk has a new goal for its leadership team: Make sure no more than 10% of your staff are stressed by Orianna Rosa Royle

‘I wasn’t built to work 9-to-5 every single day’: These Gen Z bosses introduced slump hour, siestas, chilled one-to-ones and flattened structures because they’re tired of formal corporate customs by Eleanor Pringle

Spurned by the economy, young Americans are feeling so lonely and powerless they plunged the nation’s happiness score by Chloe Berger

This edition of CEO Daily was curated by Nicholas Gordon.