Lenovo reported RMB 360 billion of AI-server backlog, up from RMB 140 billion the previous quarter.

Lenovo Group (联想集团) said its AI-server backlog reached RMB 360 billion, up from RMB 140 billion in the preceding quarter. Chairman and CEO Yang Yuanqing said AI demand was only beginning and that tight memory supply would continue through both this year and next year.

Lenovo’s Infrastructure Solutions Group generated first-quarter revenue of RMB 57.9 billion for the period ended June 2026, an increase of 98% year over year. Operating profit was approximately RMB 5.3 billion, also up 98% year over year.

The infrastructure division’s operating margin was 9.1%. That represented an improvement of 11.1 percentage points from a year earlier and 5.5 percentage points from the preceding quarter.

The RMB 360 billion figure is described as reserved AI-server orders rather than recognized revenue or completed server shipments. The source does not disclose the backlog’s accelerator mix, customer concentration, cancellation provisions, delivery schedule, or associated power and data-center capacity.