Of course it's clear which is more likely in this specific case, but from the semantic structure I read (present tense) it the other way around. It actually struck me as a grammatical error when I first read (past tense) it.

If I said "my water is ice now," one would assume freezing rather than melting.

So in this case one would assume a server became a phone, when actually a phone became a server.

(English is my first language.)