Intel’s Catastrophic Collapse: 15% of Workforce Axed, Dividend Suspended

In a desperate bid to salvage its flailing fortunes, Intel is cutting a staggering 15% of its workforce, a devastating blow to the chip maker’s already reeling employees. The brutal purge, which will axe a whopping 17,500 jobs, is part of a larger plan to slash costs and refocus on its money-losing manufacturing business.

But that’s not all – Intel is also suspending its dividend payments, a move that will further punish investors who have seen the company’s stock plummet. The shares slumped a whopping 20% in extended trading, wiping out a staggering $24 billion in market value.

The writing is on the wall: Intel’s attempts to pivot towards AI chips have fallen flat, with the company struggling to keep pace with its rivals. The results are a far cry from the optimistic predictions made by CEO Pat Gelsinger, who claimed that the company would be a major player in the AI market.

Gelsinger’s Failed Vision

Gelsinger’s grand plan to turn around the foundry business has been met with skepticism, with analysts questioning whether it’s too little, too late. The company’s cash reserves are dwindling, and its debt is mounting.

But Gelsinger remains defiant, insisting that the company needs to "deleverage" and focus on its balance sheet. The irony, of course, is that Intel’s first AI PC-focused processors are selling better than expected – but at a significant cost, which is eating into the company’s profits.

The Writing is on the Wall

Intel’s data centre business is in freefall, declining 3% in the latest quarter. The company’s PC chip business grew 9% in the same period, but it’s not enough to offset the losses.

Analysts are bearish on Intel’s prospects, with some predicting that it will take years for the company to turn things around. TSMC, Intel’s main rival, is expected to maintain its lead in the market for AI chips.

The End of an Era?

Intel’s collapse is a stark reminder of the dangers of complacency and the importance of staying ahead of the curve in the rapidly evolving tech industry. The company’s failure to adapt to changing market conditions has left it vulnerable to the whims of its competitors.

As Intel’s stock continues to plummet, one thing is clear: the company’s days as a dominant force in the tech industry are numbered.

CYBER ATTACK EXPOSES SABLE INTERNATIONAL’S DARK SIDE

BRAZEN BREACH SHUTS DOWN OPERATION, PUTS CLIENT DATA AT RISK

In a stunning display of corporate incompetence, Sable International has been hit with a "sophisticated" cyber attack, causing the firm to shut down its server, website, and transactional portal. The brazen breach has put the personal data of clients at risk, and the firm’s top executives are frantically scrambling to contain the damage.

The attack has sparked a wave of concern among clients, who are left wondering what kind of lax security measures were in place at the company. The incident highlights the disturbing lack of accountability within the financial and immigration services industry, where profit often takes precedence over cybersecurity.

Sable International’s CEO, Reg Bamford, has issued a statement apologizing for the breach, but it’s too little, too late. The firm’s reputation is in tatters, and its clients are justifiably furious.

DID SABLE INTERNATIONAL JUSTIFY ITS RISE TO PROMINENCE?

The cost of a data breach is rising steeply, and South African organisations are taking a heavy hit. Sable International’s breach is the latest in a string of high-profile incidents, and it’s a stark reminder of the importance of investing in robust cybersecurity measures.

WHAT HAPPENS NEXT?

As Sable International grapples with the fallout from this disastrous breach, questions are being raised about the firm’s accountability. Will executives be held accountable for this catastrophic failure? What measures will the firm take to prevent such breaches in the future?

CLIENTS LEFT TO WONDER…

Were Sable International’s security measures up to scratch? Was the firm reckless in its approach to cybersecurity? These questions linger as clients of the firm anxiously await an explanation and a plan for restitution.

Stay tuned for further updates as this story continues to unfold.

Justice Looms Large: Nvidia in Crosshairs of US Antitrust Probe

A US antitrust investigation is now targeting tech behemoth Nvidia, after rival companies cried foul over its alleged abuse of market dominance in the lucrative artificial intelligence chip market. The probe is focused on whether Nvidia has used its massive influence to strongarm cloud providers into buying more of its products, and whether it charges extortionate prices for networking gear if customers want to use rival AI chips.

With a whopping 80% market share, Nvidia’s grip on the AI chip market is tighter than ever, leaving competitors like AMD and Intel seething with resentment. But will the US Department of Justice be able to bring the company to heel, or will it continue to wield its power unchecked?

An Nvidia spokesperson dismissed the allegations, claiming that the company competes based on innovation and investment, and that its products are available to all customers. But competitors are crying foul, alleging that Nvidia’s bundling of software and hardware amounts to anti-competitive behavior.

French antitrust enforcers are also sniffing around, and it seems likely that Nvidia will face more heat in the coming months. So, what’s next for this tech titan? Will it emerge unscathed, or will the law finally catch up with it?

Stay tuned for further updates!

Related reading:

• Nvidia adds R6-trillion to market value in a single day

UNLOCK THE SEEDS OF WEALTH: MINISTRY URGES EXPERTS TO Fertilize UniTech Dreams with R1-Billion Fund

Attention all geniuses, risk-takers, and change-makers: the Department of Science and Innovation (DSI) is calling out to you! This is not just a passing whisper – the ministry is willing to spend a whopping R1 billion to back your revolutionary tech ventures, sired at our very own universities.

With the Higher Education Innovation Fund (HEIF), the ministry is on a quest to supercharge university innovation hubs, unleashing a tidal wave of entrepreneurship and job creation to revitalize the South African economy.

The partnership between the DSI and the United Nations Development Programme (UNDP) is a powerhouse collaboration, engineered to foster an ecosystem where academics, private sector players, and government agencies merge forces to stimulate innovation. And, this is no mere lip-service – it’s a concrete endeavour to create tangible change.

“Our goal is crystal clear: to crack open the hidden potential of our universities by empowering innovators to seize the opportunities lying within,” proclaimed Dr Blade Nzimande, the Minister of Science, Technology and Innovation.

You, esteemed experts, are called upon to inject your expertise into these innovation systems, mentoring, and guiding bright young minds, giving them the much-needed boost to bridge the gaps in the innovation-entrepreneurship landscape.

So, what’s on the menu? Co-creating general entrepreneurship programmes, ideation workshops, business models, validation sessions, market access, and yes, even investing in intellectual property!

The invitation is out: be part of shaping the future of HEIF by applying for one of these transformative initiatives. The call for proposals closes on 19 August, but the opportunities are forever.

Hurry! And remember: in the immortal words of the illustrious Dr Nelson Mandela: “Education is the key that unlocks our imagination, knowledge, and skill, leading to creativity, innovative thinking, and entrepreneurship!”

Apply here: https://procurement-notices.undp.org/view_negotation.cfm?nego_id=22632

Here’s a rewritten version with a more provocative tone:

BANKING ON BETRAYAL: Sable International’s Cyberattack Exposes Clients to Ransom

In a shocking admission, Sable International, a UK-based financial and immigration services firm with a footprint in South Africa, has been caught in a "sophisticated criminal cyberattack" that’s putting its clients’ personal data on the line. And to make matters worse, some clients have already received phishing emails that are designed to extract even more sensitive information.

"We’re talking about a brazen breach of trust here," said a cybersecurity expert who wished to remain anonymous. "It’s like they’re throwing caution to the wind and waiting for the wolves to pounce."

According to Sable International, its systems were breached despite its claims of having "robust" cybersecurity measures in place. And now, it’s scrambling to contain the damage by contacting affected clients and working to mitigate the risks.

But here’s the kicker: Sable International has shut down its servers, website, and transactional portal as a "security measure" – a move that’s likely to cause more chaos than calm for its clients.

"We’re in a full-blown crisis mode here," said group CEO Reg Bamford, who apologized to clients for the breach and promised to do everything possible to protect their interests. But the question on everyone’s mind is: how could this happen?

The truth is, data breaches are becoming more common by the day. And in South Africa, where cybercrime is rampant, it’s more important than ever to stay vigilant. That’s why we’re taking a closer look at the true cost of a data breach in South Africa – and what you can do to protect yourself.

Read next: The true cost of a data breach in South Africa

Fortinet Unleashes Cybersecurity Apocalypse in Southern Africa

In a move that’s sending shockwaves through the cybersecurity community, Fortinet has launched a new point-of-presence (PoP) in Isando, Johannesburg, signaling its intention to dominate the region’s security landscape.

The company’s bold move is part of its strategy to expand its unified secure access service edge (SASE) cloud architecture model across Southern Africa, a region where the demand for cloud-delivered security has never been higher.

With the pandemic-induced shift to remote and hybrid workforces, businesses are facing a perfect storm of security challenges. A staggering 54% of South Africa’s workforce is now either hybrid or fully remote, leaving enterprises with a massive attack surface to protect.

"We’re not just talking about securing networks, we’re talking about securing the very fabric of modern business," said Doros Hadjizenonos, regional director for Southern Africa at Fortinet. "Our strengthened presence in the region will enable us to meet this growing market opportunity and address the critical security challenges faced by our customers in today’s digital landscape."

Fortinet’s unified SASE is a game-changer, seamlessly integrating essential networking and security technologies to support the hybrid workforce. By combining SD-WAN and a cloud-delivered security service edge (SSE), the cloud architecture solution delivers networking and security to the network edge and microbranches, ensuring secure access to web, corporate, and SaaS applications.

But Fortinet’s ambitions don’t stop there. The company has partnered with Google Cloud and Digital Realty to accelerate the expansion of its unified SASE globally, with the solution now available in over 140 locations worldwide.

"We’re not just building a security solution, we’re building a global security empire," said William Petherbridge, systems engineering manager at Fortinet. "Our strategy is to deliver the most reliable and secure SASE solution to businesses in Southern Africa and South Africa through a two-pronged approach: by investing in purpose-built, scalable unified SASE locations across the region and by scaling our cloud network through partners like Google Cloud and Digital Realty."

The stakes have never been higher, and Fortinet is ready to unleash its cybersecurity arsenal on the region. Get ready for a wild ride.