Core Insights - The article discusses the significant rise in server spending during the AI boom, comparing it to the internet bubble era, highlighting the differences in scale and market dynamics [2][4][5] Server Market Trends - IDC has ceased quarterly reporting of server data since Q4 2023, which raises concerns about transparency and the motivations behind this decision [4] - Server spending has not returned to the peak levels seen during the internet bubble, despite a brief recovery in proprietary systems spending [5][6] - The market has experienced fluctuations due to various economic factors, including the 2008 recession and the COVID-19 pandemic, which impacted server sales [5][6][7] Current Market Dynamics - Current server spending is significantly higher than in 1999, driven by GPU and XPU systems, with quarterly sales reaching $100 billion or more [7][10] - There is uncertainty regarding the sustainability of this spending, as many companies have yet to demonstrate revenue that matches the scale of their server investments [7][11] Future Projections - IDC's forecasts suggest that total server spending could reach approximately $3 trillion from 2014 to 2029, with AI-related server spending accounting for $21.8 billion [10] - The article emphasizes the challenges in chip production and the need for evidence of investment returns to support such high levels of spending [11] Company Performance - Dell Technologies leads the market with a revenue of $9.3 billion in Q3 2025, while ODM vendors have captured nearly 60% of global server revenue [12][14] - X86 server sales reached $76.3 billion, growing by 32.8%, while non-X86 server sales surged by 192.7% to $36.2 billion, indicating a shift towards Arm servers in large data centers [13]

Core Insights - The global server market revenue reached a record $112.4 billion in Q3 2025, marking a significant year-on-year increase of 61% [1][2] - Lenovo has emerged as a key player in the global server market, achieving a revenue growth of 26.1% year-on-year, securing its position among the top three vendors [1][2] Market Performance - Dell Technologies led the market with revenues of $9.3 billion, a growth of 37.2% compared to Q3 2024 [2] - Lenovo's revenue reached $4.0 billion, capturing 3.6% market share, while other competitors like Super Micro and Inspur experienced revenue declines of 13.2% and 10.5%, respectively [2] - The ODM Direct segment saw a remarkable growth of 112.2%, contributing significantly to the overall market expansion [2] Segment Analysis - The x86 server segment grew by 32.8% year-on-year, generating $76.3 billion, while non-x86 servers surged by 192.7% to $36.2 billion [3] - Embedded GPU servers accounted for over half of the total server market revenue, with a year-on-year growth of 49.4% [3] Regional Insights - The U.S. server market experienced the fastest growth at 79.1% year-on-year, driven by a surge in the accelerated server segment [3] - China's market grew by 37.6%, representing nearly one-fifth of the global quarterly revenue [3] - Other regions, including Asia-Pacific (excluding Japan), EMEA, and Japan, also reported healthy double-digit growth rates of 37.4%, 31.0%, and 28.1%, respectively [3]

Core Insights - The global server market revenue reached a record $112.4 billion in Q3 2025, marking a significant year-on-year increase of 61% [1][2] - Lenovo has emerged as a key player in the global server market, achieving a revenue growth of 26.1% year-on-year, securing a market share of 3.6% and ranking third alongside Inspur Technology [1][2] Company Performance - Lenovo's revenue in Q3 2025 was $4.004 billion, up from $3.175 billion in Q3 2024, demonstrating a strong competitive advantage in the market [2] - Other major players like Super Micro, Inspur, and Hewlett Packard Enterprise experienced revenue declines of 13.2%, 10.5%, and 2.3% respectively, highlighting Lenovo's robust growth amidst a challenging environment [2] Market Trends - The x86 server revenue grew by 32.8% year-on-year to $76.3 billion, while non-x86 server revenue surged by 192.7% to $36.2 billion in Q3 2025 [3] - Embedded GPU server revenue increased by 49.4%, accounting for over half of the total server market revenue, driven by the rapid adoption from hyperscale data center operators and cloud service providers [3] Regional Insights - The U.S. server market saw the fastest growth, increasing by 79.1% compared to Q3 2024, primarily due to a 105.5% surge in the accelerated server segment [3] - China's market grew by 37.6%, contributing nearly one-fifth of the global quarterly revenue, while the Asia-Pacific region (excluding Japan), EMEA, and Japan also experienced healthy double-digit growth rates [3]

Core Viewpoint - The report highlights the transformative impact of the AI boom on the global server market, with Nvidia GPUs being a key driver of this growth, leading to a significant increase in server revenue in Q4 2024 compared to the previous year [1][5]. Market Overview - The global server market revenue reached $77.321 billion in Q4 2024, marking a 91% year-over-year increase, the second-largest growth since 2019 [5][7]. - Non-x86 server revenue surged by 262.1% to $22.5 billion, while x86 server revenue grew by 59.5% to $54.8 billion [1][5]. - Embedded GPU servers accounted for over half of the market revenue growth, with a 192.6% increase year-over-year [1][5]. Company Performance - Nvidia dominated the embedded GPU market, capturing 90% of the total shipments in Q4 2024 [2][5]. - Dell Technologies and Super Micro tied for the top position in market share at 7.2% and 6.5% respectively, with revenue growth of 20.6% and 55% [3][7]. - ODM Direct suppliers accounted for 47.3% of total revenue, experiencing a remarkable 155.5% growth [3][7]. Regional Insights - Canada recorded the highest year-over-year growth rate at 118.4%, while the U.S. accounted for 56% of total revenue [6][7]. - China saw a 93.3% increase, representing nearly a quarter of global quarterly revenue [6][7]. - Other regions, including Japan (66.9%), other Asian countries (43.8%), and EMEA (28.2%), also experienced significant growth [6][7].