Lenovo Group released its report for the first quarter of fiscal year 2026 (April 1, 2026–June 30, 2026) on August 13. Operating revenue totaled $26.943 billion (Note: approximately RMB 182.055 billion at the current exchange rate), up 43% year over year; net loss attributable to equity holders was $609 million (approximately RMB 4.115 billion at the current exchange rate).
According to Sina Technology, at a meeting held that day, Lenovo Group Chairman and CEO Yang Yuanqing said that public AI is primarily powered by public data. In the early stages, 80% of computing resources were concentrated on training, but this ratio has gradually changed. Currently, approximately 50% of computing resources are used for training and 50% for inference. Demand for inference is now experiencing explosive growth, and a more合理 allocation of computing resources would be 80% for inference and 20% for training.
In Yang Yuanqing’s view, the greater growth opportunity for AI lies in making AI widely accessible and inclusive. The key is to use individuals’ and enterprises’ private-domain data to create private AI, rather than relying solely on public AI. Lenovo has consistently emphasized “hybrid AI,” which combines private AI with public AI and encompasses personal AI, enterprise AI, and public AI.
Yang Yuanqing said that the hybrid AI trend is still in its early stages, with vast amounts of private-domain data yet to be fully explored and utilized, leaving enormous room for growth. “So don’t just look at whose model performs well; you must look at who will be the driving force behind making AI widely accessible and inclusive.”
“The PC was not invented by Lenovo; it was introduced by IBM. But the true widespread adoption of PCs did not depend on IBM—it was achieved through manufacturers such as Dell and Lenovo.” Yang Yuanqing also noted that Lenovo once became the “King of PCs” through its contribution to PC adoption, and believes history will repeat itself in the AI era.
Lenovo Group’s financial report shows that AI-related revenue in the first quarter grew 60% year over year to $8.5 billion (approximately RMB 57.435 billion at the current exchange rate), accounting for 35% of Lenovo Group’s total revenue.