Lenovo Q1 FY2026: AI revenue up 60%, Yang Yuanqing says inference demand is booming

Lenovo recently released its Q1 FY2026 results, with total revenue of $26.943 billion, up 43% year-over-year, but a net loss of $609 million. AI-related revenue grew 60% to $8.5 billion, making up 35% of total revenue.

CEO Yang Yuanqing said AI computing power is shifting from training to inference. Currently, about 50% goes to training and 50% to inference, but the ideal split would be 80% for inference and 20% for training. He believes the bigger opportunity lies in using personal and corporate private data for personalized AI, and Lenovo is pushing a hybrid AI approach that combines private and public AI.

Yang compared this to the PC era, saying Lenovo helped make PCs mainstream, and he expects the company to play a similar role in AI adoption. Lenovo also launched its 24/7 AI assistant Qira to expand its personal AI offerings.