Lyon: Reiterates that Lenovo Group (00992) maintains a “outperforming the market” rating as the first choice for Chinese technology stocks

The Zhitong Finance App learned that Lyon released a research report stating that it reiterated that Lenovo Group (00992) preferred Chinese technology stocks and maintained a “outperforming the market” rating, with a target price of HK$48.7. Akamai Technologies (AKAM.US) recently announced that it has signed a seven-year cooperation agreement with artificial intelligence company Anthropic, and revealed that it will sign a supply agreement with Lenovo. Lenovo will provide hardware, software and related services to Akamai. The main agreement will last for three years, and the first Statement of Work (Statement of Work) will last for seven years, the same period of cooperation with Akamai and Anthropic, reflecting that Lenovo ISG business is obtaining long-term cooperation opportunities for various new AI customers.

Akamai did not disclose the amount involved in the cooperation agreement with Lenovo, while the amount of cooperation between Akamai and Anthropic reached 11.6 billion US dollars. The total potential total could increase to about 20 billion US dollars, and it is expected to invest about 5.5 billion US dollars in capital expenses to fulfill the contract. The bank pointed out that the purchase of Lenovo and Jabil comes from this budget, and it is expected that a seven-year SoW will provide revenue visibility. It believes Lenovo can directly benefit from Akamai's AI development supported by Anthropic commitments and related capital expenditure.