Lenovo CFO Zheng Xiaoming stated that AI server orders reached 21 billion USD, ISG revenue last quarter was 5.6 billion USD, a 37% year-over-year increase, with an EBIT of 202 million USD setting a new high. AI-related revenue increased by 84% year-over-year, accounting for 38% of total revenue. Due to restrictions on some NVIDIA chips in China, growth has been mainly driven by overseas markets; the U.S. approved multiple Chinese companies to purchase H200 chips, and if mainland China opens up, it is expected to further boost growth. In the new fiscal year, AI is expected to maintain high double-digit growth and profit improvement.

SighingCashier

2026-05-22 09:03:51

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Lenovo Group (00992) Chief Financial Officer Zheng Xiaoming stated that the group currently has $21 billion in AI server orders and is still negotiating some large-scale orders.

Including AI server infrastructure solutions business group (ISG), last quarter's revenue hit a new high, increasing 37% year-on-year to $5.6 billion, with quarterly operating profit of $202 million also setting a new record. Zheng Xiaoming believes that driven by AI demand, ISG will maintain high growth in the new fiscal year, with further improvement in profitability.

He continued that due to restrictions on the sale of some Nvidia advanced AI chips in China, growth in AI infrastructure business is mainly driven by overseas markets. Earlier, the U.S. approved multiple Chinese companies to purchase Nvidia H200 chips, including Lenovo. When asked about the approval status in China, Zheng Xiaoming did not comment on regulatory stance but believes that if related products are allowed to be sold in mainland China, it could further boost growth.

Considering AI infrastructure, AI terminals, and other products, Lenovo's AI-related revenue last quarter surged 84% year-on-year, accounting for 38% of the group's total revenue. Zheng Xiaoming indicated that as the scale of AI-related revenue expands, it may not be able to sustain such high growth rates, but the new fiscal year should still see high double-digit increases.

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