Core Viewpoint - The integration of hardware, software, and data is driving the emergence of a new generation of technology companies, with firms that successfully merge personal and enterprise solutions becoming core assets in the AI wave [6][8]. Financial Performance - Lenovo Group reported a 15% year-on-year revenue growth in Q2 of FY2026, reaching 146.4 billion RMB, significantly exceeding market expectations. Adjusted net profit grew by 25% to 3.66 billion RMB, outpacing revenue growth [6][7]. - The IDG smart device business group achieved revenue of 108.1 billion RMB, a 12% increase, while the ISG infrastructure solutions group saw revenue rise by 24% to approximately 29.3 billion RMB, driven by strong AI infrastructure demand [7][15]. AI Infrastructure Investment - Global investment in AI infrastructure is unprecedented, with estimates ranging from 400 to 600 billion USD in 2023, surpassing previous industrial revolutions [9]. - The AI narrative has significantly impacted capital markets, with AI data center ecosystem-related stocks accounting for 75% of S&P 500 returns since the launch of ChatGPT in November 2022 [10]. Market Position and Strategy - Lenovo is one of the few Chinese tech companies fully covering personal and enterprise terminals, software, and hardware within the AI ecosystem [8]. - The company is leveraging AI infrastructure investments to enhance its "one body, multiple ends" strategy, creating highly intelligent and personalized enterprise and personal solutions [8][19]. AI Product Development - Lenovo's AI PC market share reached 31.1%, maintaining its position as the global leader, with AI PC revenue contributing significantly to overall growth [18][19]. - The Tianxi AI system, now at version 3.5, is set to release version 4.0, enhancing user experience through a personal AI twin concept [20][24]. Competitive Advantage - Lenovo's B2B business model provides a strong risk mitigation strategy, particularly in the face of supply chain fluctuations affecting competitors like Dell and HP [29]. - The company's unique position in both B2B and B2C markets allows it to benefit from the ongoing AI wave, with a dual focus on enterprise infrastructure and consumer AI products [26][35].