Lenovo Shares Jump 20% as Record Revenue Fuels AI Growth Optimism

Lenovo shares surged by around 20% during trading in Hong Kong after the technology company reported stronger-than-expected quarterly results. The record performance strengthened investor optimism surrounding Lenovo’s growing artificial intelligence business.

The company’s shares reached an all-time high, extending their gains since the beginning of the year to more than 280%.

For the first quarter of its 2026–27 fiscal year, Lenovo reported record revenue of $26.9 billion, representing a 43% increase from the same period a year earlier. According to the company, this marks its fastest revenue growth in five years.

Net income increased by 176% year over year to $1.1 billion, surpassing the $1 billion mark for the first time.

AI-related revenue grew by 60% to $9.3 billion, accounting for approximately 35% of Lenovo’s total revenue. At the same time, the company increased its research and development spending by 30%.

Lenovo’s Infrastructure Solutions business, which includes servers and data center products, delivered particularly strong results. Revenue nearly doubled to a record $8.5 billion, while operating profit reached $777 million. The operating margin also increased to an all-time high of 9.1%.

The company’s AI server pipeline continued to expand rapidly. The value of Lenovo’s AI server pipeline increased by 157% compared with the previous quarter, reaching $54 billion, supported by growing demand from cloud service providers and enterprise customers.

Revenue from Lenovo’s Solutions and Services business increased by 28% to $2.9 billion, while operating profit rose by 39% to $697 million.

Lenovo’s devices business, which includes PCs, tablets, and smartphones, also recorded solid growth, with revenue increasing by 27%. The company said its global PC market share reached 24.2%, while its share of the AI-enabled PC market increased to 25.1%.

Lenovo Chairman and CEO Yuanqing Yang described artificial intelligence as a “clear growth engine” across each of the company’s major business divisions.

ASAP and Lenovo – Partnership for Modern IT Infrastructure

Lenovo is a partner of ASAP, supporting organizations with innovative IT infrastructure solutions designed to meet the evolving needs of modern businesses. Through its partnership with Lenovo, ASAP provides access to technologies for computing infrastructure, data centers, and AI solutions that help organizations modernize their IT environments and prepare for next-generation workloads.

The strong growth in Lenovo’s AI-related revenue and infrastructure business highlights the increasing importance of AI infrastructure to the company’s expansion and to the transformation of enterprise IT environments.