You heard it here second. Lou Covey blogged in State of the Media: Oracle. Sun. Brilliant. that Oracle's play for Sun is part of a scheme to break into the Hardware or (shudder) EDA industries!
It's a provocative theory, but would leave me very, very surprised if that were Oracle's motivation. Perhaps they could improve the financials of the EDA business, or juice up EDA's database architectures. But more likely, it seems to me is that Oracle is looking for control of software assets like Java and MySQL. The server and chip businesses just seem way beyond Oracle's core competencies. I'd guess those may be spun off or otherwise de-emphasized.
5/7 Larry says they're keeping all the hardware business.