Lenovo Stock Doubles in May With 109% Surge as AI Server Revenue Jumps 84%

Lenovo's stock surged 109% in May 2026—its best monthly performance since 1999. The rally followed Q4 earnings showing record quarterly revenue of $21.6 billion, up 27% year-on-year, with net profit jumping 479% to $521 million.

AI-related revenue drove the gains, growing 84% year-on-year to account for 38% of Lenovo's quarterly sales. The Infrastructure Solutions Group, which builds AI-optimized servers and data center products, posted record quarterly revenue of $5.6 billion, up 37% year-on-year. According to Bloomberg Intelligence analyst Steven Tseng, demand is spreading from hyperscalers to enterprise companies seeking AI infrastructure solutions.