Intel (INTC) Plunges 5% Despite AgenticAI Partnership - $30 Price Floor Imminent?

Intel shares take a nosedive as markets shrug off major AI deal announcement.

The Bleeding Continues

Another 5% chopped from INTC's valuation today—AgenticAI partnership failing to impress Wall Street. The chipmaker's stock now flirts with dangerous territory as analysts whisper about potential $30 support levels.

AI Hype Meets Market Reality

While Intel touted the AgenticAI collaboration as transformative, traders clearly weren't buying the narrative. The disconnect between corporate announcements and actual market performance grows wider by the quarter—another case of "innovate now, profit later" that shareholders are growing tired of financing.

When your much-hyped AI partnership can't stop the bleeding, maybe it's time to question whether the market sees something management doesn't. Or perhaps Wall Street just remembers how many "game-changing" deals actually moved the needle long-term.

Andrew Cuomo Lands Last Minute Trump Endorsement

Trump backed Cuomo over his progressive rival, Zohran Mamdani, in a November 3 Truth Social post, telling New Yorkers that they “really have no other choice.”

“Whether you personally like Andrew Cuomo or not, you really have no choice,” Trump wrote. “You must vote for him, and hope he does a fantastic job. He is capable of it, Mamdani is not!”

Trump also claimed it WOULD be “highly unlikely” that he would contribute federal funds to New York City outside of limited requirements should Mamdani win the mayor’s seat.

Mamdani is widely seen as the favorite to win Tuesday’s landmark mayoral election, with 94% of Polymarket bettors backing the political newcomer in a poll on the decentralized prediction marketplace.

The choice is clear as day: Trump and Musk for Cuomo vs. our campaign for change. pic.twitter.com/wQTDbnCWqu

Should Cuomo, who is running as an independent, win the election, it would mark a major political comeback for the son of former New York governor Mario Cuomo.

Republican candidate Curtis Sliwa trails behind both candidates, with Trump claiming that a vote for Sliwa would effectively act as “a vote for Mamdani.”

Crypto Group Throws Support Behind Cuomo

Most recently, Cuomo received backing from Innovate NY PAC, an independent political organization that focuses on digital opportunity and technology-driven solutions to solve problems New York City faces.

​​“We believe Andrew Cuomo brings the leadership, experience, and vision to make New York City the global leader in innovation,” said Eddie Cullen, Chair of Innovate NY PAC.

“Under his leadership, New York can once again become the city that drives opportunity for working families, entrepreneurs, and innovators alike,” he added.

Regardless of who wins, the results of the 2024 New York City mayoral race will be one of the most consequential in the city’s history.