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Lenovo Group Ltd (OTC:LNVGY) has started making artificial intelligence servers at its Puducherry facility in India to diversify its manufacturing facilities away from Taiwan.
Lenovo has also opened a new Research and Development (R&D) lab in Bengaluru, joining its global network of 18 R&D labs.
The facility can produce 50,000 enterprise AI rack servers and 2,400 advanced GPU units annually, the Firstpost reports.
Lenovo looks to export over 60% of the servers produced at this facility to Asia-Pacific.
The AI server market was worth $38.3 billion in 2023 and, according to Global Market Insights, could report an 18% CAGR between 2024 and 2032, backed by the adoption of AI across various industries. In 2023, Lenovo announced a $1 billion investment between fiscal 2023 and 2025 to accelerate AI deployment.
However, a significant event had a major impact on the AI server market. Critical AI server company Super Micro Computer, Inc (NASDAQ:SMCI) was scrutinized after a Hindenburg report flagged accounting malpractices, sanctions evasion, and more.
The stock plunged 30% in the last 30 days as multiple analysts downgraded the rating. Earlier in 2024, KeyBanc analyst Thomas Blakey expected Super Micro Computer to reach a 23% share of the AI server market in calendar 2024.
Goldman Sachs analyst Michael Ng and JP Morgan analyst Samik Chatterjee called out Dell Technologies Inc’s (NYSE:DELL) AI server margins, signaling the upside thereof.
Photo by Robert Way via Shutterstock
