Good Morning. This is the Investor Lookout with the daily digest.

Here’s what we got today:

• 🖥️ Intel Reasserts Foundry Commitment

• 🤖 Klarna’s Workforce Shrinks as AI Picks Up the Slack

• 💰 Meta Hands Trump a $1 Million Inaugural Gift

Intel Reasserts Foundry Commitment

Intel co-CEOs are hitting the reset button. Intel's ($INTC) co-CEOs, Michelle Johnston Holthaus and David Zinsner, say the company remains fully invested in its internal Foundry, even as it leverages outside partners like TSMC ($TSM). Speaking at Barclays ($BARC) 22nd Annual Global Technology Conference on Thursday, Holthaus said the 18A manufacturing node is the first step to regain product supremacy. While the Foundry could one day become independent, that's a decision for the future, Zinsner added. For now, Intel is done with major layoffs and is looking to "simplify and focus" what it is doing.

• Intel has eight customers on Panther Lake, the 18A node.

• The chip maker announced that Holthaus's role as Product CEO is set in stone.

Klarna’s Workforce Shrinks as AI Picks Up the Slack

Klarna's payroll might shrink, but its AI never calls in sick. Klarna's CEO, Sebastian Siemiatkowski, said the company halted all hiring a year ago and is now relying on AI to handle what used to be human tasks. The buy now, pay later fintech has seen headcount drop by 22%, largely through attrition, while around 200 employees currently use AI for their core work. Employees have been convinced to get on board with the shift by being promised the productivity AI brings will flow into their pockets. The company's AI assistant performs the equivalent work of 700 customer service agents, Klarna said earlier this year.

• Klarna wants to adopt its model from Europe and become a bank in the U.S.

• The company is open to investing $1 billion in the U.S. to speed up licensing after Trump's proposed deal.

Meta Hands Trump a $1 Million Inaugural Gift

Meta is rolling out the red carpet with a seven-figure welcome for President Trump. Meta ($META) has contributed $1 million to President-elect Donald Trump's inaugural fund, following a recent meeting between Mark Zuckerberg and Trump at Mar-a-Lago. Although it's unclear why it made the donation, the gesture suggests Zuckerberg is keen on building ties with the new administration. Gifts to inaugural committees are popular among businesses and individuals who wish to gain favor with a new administration. Zuckerberg, Tim Cook, and Sundar Pichai are among the latest tech leaders who started reaching out to Trump, flattering him and criticizing his opposition.

• Meta's CEO recently called Trump "badass" after an attempted attack at a rally.

• Meta blocked Trump's accounts after the January 6 attack on the Capitol but has since reinstated them. 

Hut 8 Rallies On $12 Billion AI Data Center, Meta Partnership Speculation. IBD

UK and EU leaders want a reset after Trump’s win — and now voters want it too. CNBC

Adobe’s stock drop highlights this fundamental disconnect over AI. MarketWatch

BlackRock recommends bitcoin portfolio weighting of up to 2%. Reuters

How Pfizer management outplayed activist investor Starboard. YF

Blackstone sees North America private equity exits doubling next year. Reuters

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