Dell Technologies Inc. (DELL) shares plummeted 5.07% during intraday trading on Monday, reflecting a broader pullback in technology and artificial intelligence-related stocks.

The decline comes as the market digests renewed concerns over AI spending returns, which weighed heavily on the technology sector. While Dell had previously benefited from positive spillover effects tied to strong AI server demand and orders from peers like Super Micro, the overall sentiment has shifted. Recent weekly performance shows the Nasdaq Composite falling 2.1% and the "Magnificent Seven" group of mega-cap tech stocks stumbling, as investors reassess the near-term payoff from massive AI investments.

Within the Technology Hardware, Storage & Peripherals sector, weakness was widespread, with peer companies such as Seagate Technology and Western Digital also experiencing significant declines.