作为新型生产力的算力，正在成为推动数字经济发展的重要底座，也是驱动经济社会加速数字化转型的新引擎。 今年中共中央、国务院印发的《数字中国建设整体布局规划》明确了算力基础设施的发展方向，要从系统优化算力基础设施布局，促进东西部算力高效互 补和协同联动，引导通用数据中心、超算中心、智能计算中心、边缘数据中心等合理梯次布局。近年来，在一揽子政策支持下，我国算力产业发展迅速， 绿色算力在技术产品创新和赋能传统产业转型升级等多方面取得积极成效，算力产业步入集成创新、快速发展、深度应用、结构优化的可持续发展新阶 段。 但在不少行业人士的观察和思考中，算力伴随着数字经济蓬勃发展迎来了需求爆发，其能耗问题也日益突出。如何优化算力的绿色、可持续发展路径，更 高质量地发挥对经济社会的赋能驱动作用，成为算力基础设施建设面临的重要课题。对此，人民网财经研究院于近日举行了"数实融合视野下的算力可持 续发展之路"金台圆桌研讨会，邀请政产学研代表共同探讨算力产业可持续发展路径，促进绿色算力更好地为千行百业赋智赋能，为高质量发展强根基、 添活力。 国家发改委宣传中心网络部主任左红军在发言中表示，在数智时代，用户对算力的需求呈不断增长趋势，大 ...

Group 1 - HP announced plans to cut up to 10% of its workforce, affecting approximately 4,000 to 6,000 employees, as part of its AI strategy [1][2] - The restructuring is expected to incur costs of about $650 million, with $250 million occurring in the current fiscal year, but is projected to save at least $1 billion annually by the end of fiscal year 2028 [1][2] - The company is facing rising costs in its personal computer business, with memory chip prices increasing due to surging demand for AI in data centers, which is expected to negatively impact earnings by $0.30 per share this fiscal year [1][2] Group 2 - CEO Enrique Lores emphasized that the restructuring is a core initiative for adopting AI across the company, viewing it as a unique opportunity for sustained transformation and competitiveness over the next 10 to 20 years [2] - Despite job cuts in some areas due to AI adoption, HP plans to invest in certain sectors to further integrate AI into its product offerings [2] - HP's financial outlook for the current fiscal year is below market expectations, with adjusted earnings per share projected between $2.90 and $3.20, lower than analyst expectations of $3.34 [2] Group 3 - HP's Q4 performance showed mixed results, with profits of $795 million or $0.84 per share, down from $906 million or $0.93 per share year-over-year [3] - Adjusted earnings per share were $0.93, slightly above analyst expectations of $0.92, while revenue grew by 4.2% to $14.64 billion, exceeding analyst forecasts of $14.5 billion [3] - The personal systems business revenue increased by 8% to $10.35 billion, offsetting a 4% decline in the printing business, which generated $4.27 billion [3]

凤凰网科技讯 11月26日，戴尔科技集团（DELL）于美国当地时间周二公布了2026财年第三财季业绩报 告。财报显示，在人工智能浪潮的强劲推动下，戴尔该季度营收达到270亿美元，创下历史新高，同比 增长11%。基于强劲的业绩表现，戴尔宣布上调全财年业绩指引，并正式任命David Kennedy为公司新 任首席财务官。 得益于运营效率的提升和高利润率业务的增长，戴尔盈利能力显著增强。第三财季每股摊薄收益 （GAAP）为2.28美元，同比大增39%；non-GAAP每股摊薄收益为2.59美元，增长17%。公司现金流保 持强劲，单季运营现金流达12亿美元，并通过回购和分红向股东返还了16亿美元资金。 展望未来，戴尔对AI业务的持续增长充满信心。公司将全年AI服务器出货指引上调至约250亿美元，预 计同比增长超过150%；同时将2026财年全年营收指引中间值上调至1117亿美元，预计增幅为17%。对 于即将到来的第四财季，戴尔预计营收将在310亿至320亿美元之间，同比增长约32%。 在本季度的业绩中，人工智能业务的表现尤为抢眼，成为驱动戴尔增长的核心引擎。基础设施解决方案 集团（ISG）营收达到创纪录的141亿美元 ...

Core Insights - HP announced plans to lay off 4,000 to 6,000 employees while increasing the application of AI tools to reduce costs and improve efficiency [2][3] - The company expects to save approximately $1 billion in operating costs by the end of fiscal year 2028, with restructuring and related costs estimated at around $650 million [3] Financial Performance - For FY25, GAAP net revenue was $55.3 billion, a 3.2% increase from FY24's $53.6 billion [2] - GAAP operating margin decreased to 5.7% in FY25 from 7.1% in FY24, a decline of 1.4 percentage points [2] - GAAP net earnings fell to $2.5 billion in FY25, down 9% from $2.8 billion in FY24 [2] - Non-GAAP operating margin also decreased to 7.4% in FY25 from 8.5% in FY24, a decline of 1.1 percentage points [2] - Free cash flow decreased to $2.9 billion in FY25, down 12% from $3.3 billion in FY24 [2] Strategic Initiatives - The company aims to integrate AI into its operations to drive product innovation, enhance customer experience, and improve productivity [3] - CEO Enrique Lore highlighted significant opportunities in leveraging AI to accelerate product innovation and increase customer satisfaction [3]

Core Viewpoint - HP plans to lay off 4,000 to 6,000 employees by 2028, aiming to save approximately $1 billion annually through increased use of AI tools in various operational areas [2][3]. Group 1: Cost Reduction Strategy - The CEO of HP, Enrique Lores, stated that the proposed cost-cutting measures will leverage AI tools in product development, customer support, sales, and production to maintain competitiveness [3]. - The layoffs will incur about $650 million in restructuring costs, with approximately $250 million expected in fiscal year 2026 [3]. - HP previously implemented a similar cost-cutting plan three years ago, which also targeted 4,000 to 6,000 job cuts and ultimately saved the company $2.2 billion [3]. Group 2: Financial Performance - For the fourth fiscal quarter ending October 31, HP reported a 4.2% increase in sales, reaching $14.6 billion, with adjusted earnings per share of $0.93, slightly above analyst expectations of $0.92 [3]. - The revenue from HP's PC division grew by 8%, driven by customer upgrades to Windows 11 and demand for AI PCs equipped with specialized chips [3].

2. 国际贵金属期货普遍收涨，COMEX 黄金期货涨 0.78%报 4126.3 美元/盎司， COMEX 白银期货涨 1.50%报 51.08 美元/盎司。美联储理事主张大幅降息，强化市 场宽松预期。俄乌冲突现缓和迹象，但西方长期介入仍存不确定性。美国财政赤 字扩大加剧美元信用担忧。 3. 伦敦基本金属涨跌参半，LME 期镍涨 1.50%报 14920.00 美元/吨，LME 期锡涨 0.83%报 37695.00 美元/吨，LME 期铜涨 0.55%报 10832.50 美元/吨，LME 期锌跌 0.02%报 2999.50 美元/吨，LME 期铅跌 0.13%报 1981.50 美元/吨，LME 期铝跌 0.39%报 2801.00 美元/吨。 地址：北京市朝阳区朝阳门外大街甲 6 号万通中心 D 座 20 层（100020） 总机：010-8535 6666 注:本报告资讯信息来源于万得资讯和金十数据，冠通研究整理编辑 本公司具备期货交易咨询业务资格，请务必阅读免责声明。 分析师：王静，执业资格证号 F0235424/Z0000771。 免责声明： 本报告中的信息均来源于公开资料，我公司对这些信息的准 ...

Group 1 - The core viewpoint is that HP is launching a comprehensive AI transformation plan while announcing layoffs of thousands of employees [1][5] - HP plans to invest heavily in AI to enhance product development, customer satisfaction, and internal efficiency [2][3] - The transition to AI is not just a shift for HP but a necessary transformation for the entire industry to remain competitive [4] Group 2 - HP expects to lay off between 4,000 to 6,000 employees by fiscal year 2028, aiming for annual savings of $1 billion [5] - The company plans to invest approximately $650 million in restructuring, with $250 million allocated for fiscal year 2026 [6] - Despite the AI hype boosting tech stocks, HP's stock has not benefited significantly, with a nearly 17% decline over the past 12 months [7] Group 3 - For the fourth fiscal quarter ending October 31, HP reported a revenue increase of 4.2% to $14.6 billion, slightly below analyst expectations [10] - The personal systems business segment saw an 8% revenue growth to $10.4 billion, driven by an upgrade cycle due to the end of Windows 10's lifecycle [10] - The printing business continued to decline, with a 4% revenue drop to $4.3 billion and a 12% decrease in hardware sales [11] Group 4 - Analysts have downgraded HP's stock rating to "neutral," citing a shift from a favorable PC cycle to a more challenging environment [12] - PC product shipment growth is expected to be 6.6% in 2025 but decline by 2.2% in 2026 as the Windows 10 upgrade cycle fades [13] - Rising costs of DRAM and NAND chips may further impact HP, with estimated losses in gross margin and earnings per share due to increased memory chip prices [13]

公司预计AI服务器发货额将达到258亿美元。该预期超出了分析师普遍预期的208.2亿美元，也高于戴尔 自身此前设定的200亿美元的AI服务器发货目标。 戴尔将全年营收目标上调至1112亿—1122亿美元，高于此前预期的1050亿—1090亿美元。 ...

| | | | Three Months Ended | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | October 31, | | November 1, | | | October | | | | 2025 | | 2024 | Change | | 202 | | | | | | | (in millions, except per share amounts and percen | | | | Net revenue | S | 27,005 | S | 24,366 | 11% | S | | | Operating income | Ş | 2,119 | S | 1,721 | 23% | S | | | Net income | $ | 1,548 | S | 1,170 | 32% | S | | | Change in cash from operating activities | S | 1,172 | ટે | 1,553 | (25)% | S | | | Earnings per share - ...

【环球网财经综合报道】2025 年 11 月 25 日，戴尔科技集团（纽约证券交易所代码：DELL）公布了 2026 财年第三财季业绩报告，以及2026 财年第四财季及全年的业绩指引。公司同时正式任命David Kennedy为首席财务官。 2026 财年第三财季业绩摘要： 第三财季营收达270亿美元，创历史新高，同比增长11% 客户端解决方案集团（ CSG ）业务板块表现如下： 第三财季每股摊薄收益为2.28美元，同比增长39%；non-GAAP 每股摊薄收益达创纪录的2.59美元，增 长17% 第三财季运营现金流为12亿美元 戴尔科技集团首席财务官 David Kennedy 表示："在第三财季，我们实现了270亿美元创纪录的营收和创 纪录的盈利能力，同时拥有强劲的现金流，资本回报超越增长趋势线均值，达16亿美元。2026财年将再 创新高，同时我们将 AI出货指引上调至约 250亿美元，同比增长超过 150%；将营收指引上调至 1,117 亿美元，增长 17%。" 戴尔科技集团副董事长兼首席运营官 Jeff Clarke 表示："下半年人工智能（AI）发展势头迅猛，推动AI 服务器订单额创下123亿美元新 ...