LNVGF - Lenovo's AI infrastructure revenue ~$2B plans $1B investment to deploy AI for businesses

2023-06-14 07:07:23 ET

Lenovo ( OTCPK:LNVGY ) ( OTCPK:LNVGF ) said it reached an annual AI infrastructure revenue of over $2B and noted that it will invest an additional $1B over three years to boost artificial intelligence (AI) deployment for businesses globally.

The investment will expand the company's AI-ready portfolio of smart devices, infrastructure solutions and services to help boost innovation, enabling the use of generative AI and delivering cognitive decisions at scale across remote locations in financial, manufacturing, healthcare, retail and smart city applications.

As part of the investment, Lenovo is committing $100M to grow the Lenovo AI Innovators program, which has delivered over 150 cutting edge AI solutions created with 45 ISV partners in the program's first year.

"Building on our more than 150 AI solutions, this pivotal investment further expands the development of AI-ready infrastructure solutions that will help customers overcome deployment complexities and more easily implement AI to deliver transformative services and products to the market," said Kirk Skaugen, president of Lenovo Infrastructure Solutions Group.

The company added that the expanded AI-ready portfolio of smart devices and edge-to-cloud infrastructure includes new Lenovo ThinkEdge and ThinkSystem platforms for enabling AI workloads.

Lenovo ThinkEdge SE360 V2 is a purpose-built edge server which delivers more power to enable AI solutions, including computer vision, voice AI and generative AI.

Meanwhile, in the data center, the new Lenovo ThinkSystem SR675 V3 is purpose-built for AI with three server configurations in one.

Lenovo noted that it is collaborating with Nvidia ( NVDA ) on the latest NVIDIA OVX system for building and operating virtual worlds, delivering powerful performance for NVIDIA Omniverse Enterprise workloads in the data center.

Lenovo said that besides infrastructure, it is implementing AI from the pocket to the cloud, with smart devices and solutions which ensure data science is accessible across industries in the hybrid and remote work era.

The new Lenovo ThinkPad commercial laptops include a new Lenovo View application, which offers AI-enabled computer vision technology for better video image quality and tools, according to the company.

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