Lenovo reports record quarterly revenue driven by AI growth

Lenovo Group has reported its strongest fiscal first quarter in history, driven by a surge in demand for artificial intelligence hardware. The company achieved record quarterly revenue of $26.94 billion, representing a 43% increase year-over-year and exceeding analyst expectations. Adjusted net income rose 176% to approximately $1.075 billion, marking the first time the company has surpassed the $1 billion milestone in a single quarter.

AI-related revenue has become a primary growth engine, reaching $9.3 billion—a 60% year-over-year increase—and accounting for 35% of total sales. This growth includes AI PCs, smartphones with dedicated accelerators, GPU servers, and infrastructure. The Infrastructure Solutions Group (ISG) saw revenue nearly double to $8.5 billion, up 98% from the previous year.

Driven by an AI server pipeline valued at $54 billion, Chairman and CEO Yuanqing Yang indicated that the company may reach its $100 billion annual revenue goal faster than previously anticipated. Additionally, Lenovo serves as the official technology partner for the FIFA World Cup 2026, providing infrastructure and AI-powered solutions.