Dell Technologies (NYSE:DELL) shares climbed around 2% Thursday after Chinese rival Lenovo Group (OTC:LNVGY) revealed its AI server pipeline surged 157% quarter over quarter to $54 billion.
The figure adds to mounting evidence that spending on AI infrastructure remains strong, following a bullish signal this week from Super Micro Computer (NASDAQ:SMCI) and reinforcing Dell’s own strong AI server numbers.
Prediction market traders are also leaning heavily bullish on Nvidia Corp. (NASDAQ:NVDA) heading into year-end.
Lenovo’s AI Server Pipeline Surges 157%
Lenovo reported the strongest quarter in its history on Thursday, with revenue up 43% year over year to $26.9 billion.
Its Infrastructure Solutions Group, which houses the server business, nearly doubled revenue to a record $8.5 billion, while AI-related revenue across the group rose 60% to $9.3 billion.
The number that stood out was the $54 billion AI server pipeline, up 157% from the previous quarter.
Management said the figure includes customer engagements, deals and prospective orders that are not yet committed or fully qualified, though conversion rates have historically been fairly consistent.
Lenovo attributed the jump to accelerating AI infrastructure momentum and a rapidly expanding customer base.
Dell Gets Another Bullish AI Server Signal
Lenovo is the second major server maker this week to point to stronger-than-expected AI infrastructure demand.
Super Micro added to the bullish picture on Wednesday, forecasting fiscal 2027 revenue of $65 billion to $72 billion, well above the $52.5 billion consensus estimate.
Dell has seen the same strength. It entered the fiscal year with a $43 billion backlog of AI-optimized server orders, while AI server revenue jumped 757% in its latest quarter.
Lenovo’s results now add another major server maker to the list, suggesting strong AI demand is showing up across the industry.
Traders Back Nvidia to End 2026 as World’s Biggest Company
Dell and Lenovo are major Nvidia server partners. Lenovo said demand is strong for B300 and GB300 systems, with interest already building for Vera Rubin.
That optimism is also showing up on prediction markets. Polymarket traders give Nvidia a 73% chance of ending December as the world’s largest company by market capitalization, far ahead of Apple at 14% and Alphabet at 12%.
The market has attracted about $5.9 million in trading volume.
Dell shares rose 2.5% to $496 at the time of writing Thursday. Nvidia shares rose 0.5% to $225.
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