The laptop is new, purchased direct from HP one week ago. Speakers pass all BIOS hardware testing including speaker audio tests.
This is a current model HP Elitebook 8 G1i running HP BIOS version X91-01.02.04 / 2.3.8.0.
CPU: Intel Core Ultra7 258V Lunar Lake
The problem affects various Ubuntu / Debian-based linux distros such as Linux Mint; also some non Debian distros such as Manjaro / Arch and Fedora (rawhide).
Audio works perfectly through the headphones jack or via USB audio -- just not from the laptop speakers.