AMD cuts 1,000 jobs

Want to get rich? Unfortunately, we can’t help you with that. But we can give you the latest information about AI and finance! 🤑

*Nothing in this newsletter constitutes investment advice. Our aim is to report the latest happenings and teach you how to use the newest AI finance tools.*

🤯 MYSTERY AI LINK 🤯

(The mystery link can lead to ANYTHING AI-related: tools, memes, articles, videos, and more…)

🔨 AI FINANCE TOOLS OF THE DAY

🤝 SaveMyLeads: Automate lead capturing and management. → Check it out

🎥 VidAU: Create video ads with AI actors. → Check it out

💵 Copilot Money (App): Manage your finances with AI. → Check it out

SALTY STORIES OF THE WEEK 🧂

Want some seasoning? Here are the saltiest AI stories in FRY-nance from this week:

• AMD is cutting ~1,000 jobs (about 4% of its workforce) to focus resources more directly on AI chip development. The company anticipates AI chip sales will contribute $5 billion this year, or 20% of the company’s total revenue. This refocusing of resources will be crucial to solidifying a piece of the AI chip market, currently around $125 billion and expected by the company to reach $500 billion by 2028. (Read More)

• SoundHound, a global leader in AI voice, announced record-breaking results for Q3 2024, with revenue reaching $25.1 million—an 89% year-over-year increase. The company has diversified its customer base and expanded into new industries like finance, healthcare, and insurance. This reflects the desire for AI voice solutions across multiple domains. (Read More)

THIS WEEK’S DIAMOND IN THE ROUGH 💎

French fries > chips. 🤷‍♂️

This week’s diamond in the rough: Advanced Semiconductor Materials Lithography (ASML).

How is AI helping ASML? ASML is a Dutch semiconductor company that holds a monopoly on extreme ultraviolet (EUV) lithography machines, a technology used to print tiny patterns on silicon computer chips. These machines are essential for manufacturing the cutting-edge chips used in AI, advanced GPUs, and other high-performance computing applications. Without ASML, chipmakers like Taiwan Semiconductor and Nvidia couldn’t produce the processors that drive AI innovation, making ASML a linchpin in the global chip value chain.

Want some numbers? ASML’s stock has fallen roughly 40% from its all-time high of nearly $1,100 to around $700, partly due to reduced sales in Chinese markets. Previously, 47% of ASML’s sales were from China, and now that number is projected to drop to 20% in the coming year. This drop is being caused by U.S. export restrictions to China and an economic downturn in the country. However, given its vital role in AI innovation and its partnerships with giant chip suppliers, the future of the company looks bright.

HOW ARE THE MAGNIFICENT 7 DOING? 📈

FRY-NANCIAL TOOL OF THE WEEK 🔧

Q: Why did the football coach get in a fight with the vending machine?

A: He wanted his quarter back. 🏈

What is the tool? Spend Less is a browser extension that helps you save money.

How does it work? Spend Less is trained to detect deceptive marketing schemes on online websites. So when shopping online, Spend Less will detect when you are being drawn in by a product or ad and notify you with an inspirational reminder to thoughtfully consider your purchase. It will also provide you a link to “something beautiful”—an interesting page related to your interests to scroll on instead of shopping. The message can easily be dismissed if you are on a desired page, but it serves to remind users to be thoughtful in their spending.

*Disclaimer: We don’t receive any perks for sharing this tool. We just want to show you how cutting-edge AI tools can be used to enhance your financial life.*

FRY-AI FANATIC OF THE WEEK 🍟

Congrats to our subscriber, decihex! 🎉

Decihex gave us a Fresh and Crispy review and wrote, “Good to keep updated and entertaining.“

(Leave a comment for us in any newsletter, and you could be featured next week!)

YESTERDAY’S POLL RESULTS 📊

Featured comments:

“With AI as a back-up support to the human.” (Humans 🛩️)

“Pilot error is real, but I don’t have to worry that a human pilot will hallucinate.” (Humans 🛩️)

HAS AI REACHED SINGULARITY? CHECK OUT THE FRY METER BELOW: