Lenovo posts record Q1 revenue of 183.4B yuan, up 43%, as AI server business booms

Lenovo Group posted record results for the first quarter of its 2026/27 fiscal year (April-June), with revenue reaching 183.4 billion yuan, up 43% year over year and the highest ever for the period.

According to QbitAI's report, the quarter marks Lenovo's strongest performance on record, with both revenue scale and growth rate hitting new highs. Its AI server business is entering an explosive growth phase and has become the core engine driving the results.

With global demand for AI compute still surging, cloud vendors and enterprise and government customers are pouring money into data centers and AI infrastructure, and Lenovo's AI server orders have scaled up sharply as a result.

The strong numbers also signal that Lenovo is accelerating its shift from a traditional PC maker into an AI infrastructure provider, with server and smart computing revenue taking a bigger share of the top line.

The quarterly results validate Lenovo's competitive position in the AI server market and show that AI infrastructure has become one of its most important growth levers.

Still, with revenue surging, investors will be watching the profitability of the AI server business, order sustainability, and whether the momentum carries into the next quarter.

What to watch next: the customer mix and order visibility of Lenovo's AI servers, gross margin trends, and the recovery of the traditional PC business amid the AI PC push.