Manufacturers are approaching generative AI initiatives more cautiously than anticipated, with 58% planning to increase AI spending in 2024.
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Intuit announces 1800 job cuts – about 10% of the company’s total headcount, selecting 1050 employees who don’t meet expectations. Intuit stock fell 2.57% to close at $632.84 in early trading Wednesday, up 1.25% year-to-date, compared with a 23.3% gain on the Nasdaq Commodities (Nasdaq COMP).
The US venture capital funding surged to $55.6 billion in Q2, driven by significant investments in AI companies, reversing a previous decline.
US restricts investments in China’s AI sector, criticised by China’s UN envoy for hindering development and promoting division.