12月10日，中科曙光正式宣布，终止与海光信息的吸收合并计划！ 回顾半年前，海光信息曾在6月计划以0.5525:1的比例换股吸收中科曙光。 前者是国内重要的CPU、DCU（AI加速芯片）设计公司，后者是国内领先的计算、服务器、存储和云 计算服务商，一个偏芯，一个偏端和云，二者市值相加甚至超过了5000亿（2025年12月16日）。 然而，这场旨在打造"芯片-服务器-算力服务"一体化巨头的战略性重组，却在众人的期待与疑惑中戛然 而止了。 那么，这两家公司渊源从何而起？合并终止又意味着什么呢？ 海光信息成立于2014年，自其诞生之初，中科曙光就是其最大的股东。截至9月30日，曙光信息依旧持 有海光信息27.96%的股权。 业务上，二者天然互补。 海光信息专注CPU/DCU芯片设计环节；中科曙光则在整机制造环节提供服务器、智能计算中心等，云 平台用户超200万，覆盖90%省级政务云渠道。 它们如果合并，海光信息的CPU/DCU芯片可直接深度适配中科曙光的服务器系统，减少适配成本，提 升产品迭代速度。 这个国产算力全栈"巨无霸"的故事，在AI算力、国产化替代热火朝天的近几年，无疑是一个强强联合、 打通闭环的剧本。 可 ...

Core Viewpoint - Hewlett Packard Enterprise Co. (HPE) has provided a sales outlook for the current quarter that falls short of market expectations for its artificial intelligence (AI) server business, resulting in a decline in the company's stock price during pre-market trading [1][4]. Financial Performance - HPE expects revenue for the fiscal quarter ending in January to be between $9 billion and $9.4 billion, with adjusted earnings per share projected at $0.57 to $0.61. Analysts had previously anticipated an average revenue of $9.88 billion and earnings of $0.53 per share [1][4]. - For the fourth fiscal quarter ending October 31, HPE reported a revenue growth of 14%, reaching $9.68 billion, which is slightly below the analysts' average expectation of $9.9 billion. The earnings per share were $0.62, exceeding the analysts' average expectation of $0.58 [2][7]. Market Reactions - Following the earnings outlook, HPE's stock closed at $22.90 and experienced a pre-market drop of 9.3%. Year-to-date, the stock has seen a cumulative increase of 6.7% [1][6]. Business Strategy and Developments - HPE's CEO, Antonio Neri, indicated that sales for the fourth quarter did not meet analyst expectations due to delays in server transactions supporting AI workloads, which have been pushed to 2026. A specific deal in Europe was delayed due to unprepared data centers, and a related agreement with the U.S. government was hindered by a federal government shutdown [1][4][5]. - HPE's CFO, Marie Myers, noted that the company's AI servers continue to attract significant attention from government and enterprise clients, although demand is expected to remain uneven due to longer delivery cycles for orders from large sovereign clients [2][6]. - The company completed the acquisition of Juniper Networks for approximately $13 billion in July, positioning its network business as a key pillar for future expansion. Cost-cutting measures and increased sales of high-margin network devices have contributed to an improvement in profit margins [2][6]. Order Book - In the current quarter, HPE secured $2 billion in new AI server orders [7].