Shares of LENOVO GROUP (00992) surged dramatically today, with gains exceeding 30% intraday to reach a new all-time high since listing. At the time of writing, the stock was up 25% to HKD 24.6, with a turnover of HKD 2.022 billion.

The rally is fueled by the ongoing surge in demand for AI infrastructure. Dell Technologies Inc., a major US server and personal computer manufacturer, reported quarterly results on Thursday that significantly exceeded expectations, sending its stock soaring nearly 40%.

For its fiscal first quarter of 2027, Dell posted revenue of $43.8 billion, an 88% increase year-over-year. Adjusted earnings per share (EPS) surged 214% to $4.86. Furthermore, the company raised its AI server sales forecast to $60 billion.

Notably, LENOVO GROUP recently released its own financial results, which also surpassed expectations for the fourth fiscal quarter. The company reported revenue of $21.6 billion, a 27% year-over-year increase. AI-related revenue grew by 84%, accounting for 38% of total revenue. Adjusted net profit attributable to shareholders reached $560 million, up 101% year-over-year.

Within this, the Infrastructure Solutions Group (ISG) business achieved revenue of $5.6 billion, a 37% increase, with operating profit of $202 million, both setting new quarterly records. Yang Yuanqing, Chairman and CEO of LENOVO GROUP, stated that the company aims to increase its overall revenue scale to $100 billion within a maximum of two years.