雷达财经出品 文|彭程 编|孟帅 由新晋江西首富陈天石执掌的国产AI芯片领军企业——寒武纪，当下正被一场天价索赔风波所困扰。 10月31日晚间，寒武纪发布一则公告称，公司原副总经理兼首席技术官梁军以劳动争议为由向公司提起诉讼。 公告显示，梁军此番提出的索赔金额高达42.87亿元，这一数字相当于寒武纪前三季度归母净利润的2.67倍，一举刷新了国内科技行业在股权激励纠纷方面 的索赔纪录。 据了解，作为寒武纪早期的核心技术人才，梁军拥有中国科学技术大学通信与信息系统硕士学位，专业背景深厚。此前，他曾在华为及海思半导体深耕17 年。2017年，梁军加入寒武纪，出任首席技术官一职，主导完成了多项核心芯片产品的研发工作。 不过，因与公司存在分歧，2022年梁军与寒武纪解除了劳动合同。截至公告发布当日（10月31日），寒武纪股价报1375元/股，与梁军离职时相比股价涨 幅已超过2000%。 在卷入这场天价索赔风波的同时，寒武纪近期交出的业绩答卷却颇为亮眼。前三季度，公司实现营收46.07亿元，同比增长2386.38%；归母净利润16.05亿 元，同比扭亏为盈。 尽管前三季度的业绩表现可圈可点，但寒武纪仍面临着多重业绩隐忧。 ...

Group 1 - The core viewpoint of the article is that the global computing power competition has entered a "system-level" confrontation era, with China's computing power industry accelerating its integration through a "carrier-level" approach [1][22] - The strategic merger between domestic chip giant Haiguang Information and server leader Zhongke Shuguang is expected to break traditional industry boundaries between chip design and complete machine manufacturing, marking a significant move in China's computing power industry [1][5] - This merger is the first absorption merger case following the revision of the "Major Asset Restructuring Management Measures for Listed Companies," highlighting its importance in optimizing the independent innovation ecosystem in response to international technological blockades [1][6] Group 2 - The merger is anticipated to significantly reduce research and transaction costs, potentially creating a "hard technology platform enterprise" that combines high-valuation chip business with stable cash flow [1][10] - Haiguang Information holds a leading market share of 53.6% in domestic server CPUs and over 30% in the domestic GPU market, while Zhongke Shuguang is the leading player in the domestic server market with a sales volume of 265,400 units in 2024 [6][12] - The integration aims to enhance technological synergy and strengthen ecological advantages, promoting the development of leading enterprises in the information industry [6][7] Group 3 - The historical context shows that both companies share a common origin, having been established to overcome the bottleneck of domestic high-end processor technology [3][4] - The integration is seen as a beneficial attempt to "fill gaps and strengthen advantages" in China's computing power industry, leveraging technological complementarity and resource reuse [8][21] - The new entity formed post-merger is expected to adopt a dual-driven model of "high-valuation chip research and development + stable cash flow from complete machine sales," which may attract a valuation premium as a "hard technology platform enterprise" [10][31] Group 4 - The article discusses the evolution of China's computing power industry, which has transitioned from reliance on imported chips and systems to developing a complete innovation chain from basic chips to supercomputing applications [11][13] - The merger reflects a shift from "individual combat" to "group combat," allowing Chinese enterprises to participate in global competition with system-level advantages [21][23] - The article highlights the increasing global significance of computing power as a key indicator of national strategic capability, with the merger being a strategic move to build a self-controlled full industry chain ecosystem [22][24]