$联想集团(00992)$ the year's final quarter saw ISG revenue grow 15 percent year-on-year – a record for the business unit. But the $2.5 billion of revenue for the quarter came with a $96.5 million loss – a slump from $7.5 million of profit from $330 million less revenue a year back.

Rival SuperMicro, by contrast, has won $9.6 billion of revenue in the first three quarters of its FY 2024, almost doubling revenue from the same period last year while posting fat profits.