Lenovo Q1 AI Revenue Soars 60% YoY to $8.5B in FY2026; Yang Yuanqing Sees Huge Growth Potential in Private AI

On August 14, Lenovo Group released its financial results for the first quarter of fiscal year 2026, reporting total revenue of USD 26.943 billion, an increase of 43% year-over-year, and a net loss attributable to equity holders of USD 609 million. The report disclosed that AI-related revenue for the quarter reached USD 8.5 billion, up 60% year-over-year, accounting for 35% of the group’s total revenue. During a subsequent earnings call, Yang Yuanqing, Chairman and CEO of Lenovo Group, noted that the current compute utilization structure has shifted from an early split of roughly 80% for training and 20% for inference to an approximately even 50-50 balance between training and inference, with inference demand growing rapidly. He emphasized that the greater growth potential for AI lies in broad accessibility and inclusivity, centered on leveraging private data from individuals and enterprises to develop private-domain AI. Yang highlighted Lenovo’s vision of “hybrid AI”—a combination of private and public AI encompassing personal AI, enterprise AI, and public AI. He added that hybrid AI is still in its early stages, with vast amounts of private data yet to be fully tapped, offering immense growth potential.