Intel Hits 50-Year Stock Low Due to Major Layoffs and Dividend Cuts

Hey there,

Intel's shares have plummeted to their lowest value since 1974, driven by a 15% workforce reduction and dividend suspension as the company struggles to realign costs and adapt to AI-driven market trends. CEO Pat Gelsinger emphasizes the need for "bolder actions" to address financial challenges and compete with rivals like Nvidia and TSMC.

TODAY’S ROADMAP

• Current Happenings in AI World

• Intel Faces Major Setbacks: Shares Plunge, Jobs Cut, and Dividends Suspended

• Effortlessly Transcribe Audio Files into Various Formats with Speech to Note

• 5 AI Tools to Boost Your Productivity

  and more…

NEWS

Current Happenings in AI World

• Memory Lane: Chrome is rolling out three new AI features, including one that allows you to scan and interact with your browsing history.

• Copyright Conundrum: AI music generators Sunio and Udio are defending against lawsuits from major record labels, claiming their training methods qualify as fair use.

• Friend or Foe: Microsoft’s latest financial report now lists OpenAI as a direct competitor “in the search and news advertising fields,” indicating that the sometimes-partners could be turning into rivals.

• AI Test Kitchen: GitHub is launching a new interactive “playground” called Models, enabling developers to experiment with different AI models simultaneously.

• Need for Speed: Stability AI has released a faster version of its 3D image generator, capable of creating 3D images in roughly half a second — about 1,200 times faster than its predecessor.

AI UPDATE

Intel Faces Major Setbacks: Shares Plunge, Jobs Cut, and Dividends Suspended

Intel has faced significant setbacks this past week, with shares plummeting to their lowest value since 1974. The share price dropped by 26% on Friday to $21.48, and by Monday, it fell below $20. To put this in perspective, Intel’s share price was $41.80 at the start of the year. Traders reacted to a series of setbacks, primarily the news that Intel was cutting 15% of its workforce, around 17,000 jobs. The company stated these cuts were part of an effort to “resize and refocus” and reduce spending.

Additionally, Intel suspended its dividend starting in the fourth quarter of 2024. “Our revenues have not grown as expected… Our costs are too high, our margins are too low,” said Pat Gelsinger, Intel’s CEO, in a note to employees. Gelsinger painted a bleak picture, stating that “bolder actions” are needed “particularly given our financial results and outlook for the second half of 2024, which is tougher than previously expected.”

“Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” Gelsinger told staff. What’s gone wrong at Intel? According to the CEO, Intel is “yet to fully benefit from powerful trends, like AI.” Historically strong, Intel now competes with Nvidia, which was briefly the most valuable company in the world. Unlike Nvidia, which solely designs chips, Intel designs and manufactures its units, competing with giants like Taiwan Semiconductor Manufacturing Company (TSMC). While traditionally excelling at CPUs, Intel struggles to keep up with the shift to AI and large-scale GPU chips.

AI AT JOB

Effortlessly Transcribe Audio Files into Various Formats with Speech to Note

1. Visit the Speech to Note website and log in with your account.

2. Select Note Format from the list, which includes options like social media, education, professional writing, personal/casual, and more.

3. Upload your audio file and wait for it to transcribe into your chosen format.

4. Your audio file transcription will be ready for use.

For the example above, I used an audio file about EV Cars and transcribed it into a technical format.

You can convert any audio file into social media posts, blogs, Quora answers, business memos, technical papers, and much more.

AI MEETS PRODUCTIVITY

5 AI Tools to Boost Your Productivity

• Toby: Communicate fluently in any language using an AI-powered two-way live translation tool.

• QSourcer: Enhance your talent sourcing on LinkedIn, GitHub, and other platforms with AI-driven search.

• Fleso: Streamline administrative tasks and easily adjust workflows to focus on what matters most.

• Mindsmith: A generative AI platform that simplifies and speeds up the creation and sharing of learning content.

• Martin: A personal AI you can text, email, or talk to — integrated with your calendar, email, and more.

PROMPT OF THE DAY

Compose Music for the Poem "Hayalet Sevgilim"

Prompt: I want you to act as a composer. I will provide the lyrics to a song and you will create music for it. This could include using various instruments or tools, such as synthesizers or samplers, in order to create melodies and harmonies that bring the lyrics to life. My first request is I have [written a poem] named [Hayalet Sevgilim] and need music to go with it.

Create melodies and harmonies using various instruments to bring the lyrics of "Hayalet Sevgilim" to life.

AI CRAFTED IMAGES

Neytiri

Prompt:
Anthropomorphic textured painterly, fine colour pencil drawing, of Neytiri detailed, top quality, HDR, macro.

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We appreciate you taking the time to read this.

See you in the next one!

Warm regards,

Team AI Junction

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