On Thursday, Lenovo Group reported a revenue of $12.9 billion in its first fiscal quarter (from April to June), reflecting a 24% decline year-on-year. The report stated that the revenue decline was attributed to the sluggish global market. However, Lenovo maintained its leading market share position in PCs (23.2%) worldwide. Lenovo’s CEO, Yuanqing Yang, announced a $1 billion investment in AI development and application over the next three years, with expectations of implementing AI upgrades to the company’s smart devices as early as next year. Additionally, Intel plans to launch the Meteor Lake 14th-gen Core processor for AI PCs in the third quarter of 2023, as indicated by the company’s second-quarter earnings report in July. [Lenovo]
