# Hardware stocks jump thanks to server demand and record Lenovo revenue > Source: > Published: 2026-05-22 18:57:43+00:00 # Hardware stocks jump thanks to server demand and record Lenovo revenue Server stocks are rallying as [Dell](https://robinhood.com/us/en/stocks/DELL/?source=sherwood), [Super Micro Computer](https://robinhood.com/us/en/stocks/SMCI/?source=sherwood), and [Hewlett Packard Enterprise](https://robinhood.com/us/en/stocks/HPQ/?source=sherwood) ride the momentum of Hong Kong-based Lenovo. The PC maker’s stock rose 19% on Friday, hitting an all-time high, on record Q4 earnings. Powering the positive earnings report was the company’s AI-related revenue, which grew 84% in the fourth quarter and now makes up over a third of total revenue. Investors seem to think the increased demand for servers could have trickle-down effects for other companies. “The company’s results and commentary reinforced the outlook for strong AI-infrastructure demand while indicating resilient broader traditional server and storage spending,” wrote Woo Jin Ho, a senior technology analyst at Bloomberg Intelligence. “Lenovo’s $21 billion AI-server pipeline and remarks that demand is outpacing supply support Dell’s AI-demand momentum and point to robust orders.” AI’s insatiable computing demand is reshaping the hardware industry and driving up server demand. Dell will report first-quarter earnings on Thursday, May 28.