Dell previously had its headquarters in the complex in northern . In 1989 Dell occupied 127,000 square feet (11,800 m2) in the Arboretum complex. In 1990, Dell had 1,200 employees in its headquarters. In 1993, Dell submitted a document to Round Rock officials, titled "Dell Computer Corporate Headquarters, Round Rock, Texas, May 1993 Schematic Design." Despite the filing, during that year the company said that it was not going to move its headquarters. In 1994, Dell announced that it was moving most of its employees out of the Arboretum, but that it was going to continue to occupy the top floor of the Arboretum and that the company's official headquarters address would continue to be the Arboretum. The top floor continued to hold Dell's board room, demonstration center, and visitor meeting room. Less than one month prior to August 29, 1994, Dell moved 1,100 customer support and telephone sales employees to Round Rock. Dell's lease in the Arboretum had been scheduled to expire in 1994.
The company dropped the PC’s Limited name in 1987 to become Dell Computer Corporation and began expanding globally. In June 1988, Dell's market capitalization grew by $30 million to $80 million from its June 22 of 3.5 million shares at $8.50 a share. In 1992, magazine included Dell Computer Corporation in its list of the world's largest companies, making Michael Dell the youngest CEO of a Fortune 500 company ever.