And the expansion is also a sign of the chip makers longer term optimism about demand even in the face of market upheaval. comes after Washington agreed to provide semiconductor makers lucrative grants in order to bring more advanced manufacturing back onto American soil. Quentin Webb: So, TSMC's increased commitment to making chips in the U.S. Our deputy finance editor, Quentin Webb, has more. That's in addition to a chip factory the company committed to build in 2020. Taiwan Semiconductor, the world's largest contract chip maker, is working on a multi-billion dollar plant north of Phoenix, according to people familiar with the plans. And Arizona is getting another chip factory. On Wednesday, its chief information security officer stepped down. In his email, Musk also said, "Twitter needs roughly half its revenue to come from subscriptions." The new in-office policy comes as more of Twitter's top leaders depart the company. Back in March, former CEO Parag Agrawal said the company would allow remote work "forever". A memo from Elon Musk to the employees of Twitter, "No more remote work." In his first company wide email since taking over, Musk told workers they must be in the office 40 hours a week unless they get a specific exemption. Zoe Thomas: Amazon stock is down about 45% for the year-to-date. That business based on documents that we have has lost more than 5 billion annually in some recent years. The company's moving to cut unprofitable divisions like robotics, and they're really taking a look at the devices business, which includes Alexa. And based on sources that we've talked to, CEO Andy Jassy has started a large review of expenses and is really making a big profit push. Demand hasn't been as strong this year for Amazon as in previous years, so it is moving to cut cost. Sebastian Herrera: Amazon, after two years of big growth, has had a year this year of net income losses. Our reporter, Sebastian Herrera helped break the story. The e-commerce giant has been experiencing a slowdown in its core retail business while trying to manage the cost of its logistics network, which it expanded rapidly during the pandemic. We report exclusively, Amazon has launched a cost cutting review. On today's show, our crypto reporter, Vicky Huang, joins us to discuss the latest in the ongoing saga at FTX and the trouble it could spell for the wider crypto sector. But the impact of the latest and largest liquidity crisis in crypto is likely to have massive impacts on investors across the industry. Sam Bankman-Fried, the founder of FTX, has apologized on Twitter for the financial turmoil that's engulfed that cryptocurrency exchange this week. One of crypto's biggest cheerleaders and champions says he should have done better.
I'm Zoe Thomas for the Wall Street Journal.
Zoe Thomas: This is your Tech News Briefing for Friday, November 11th. This version may not be in its final form and may be updated. I also cover a weekly wrap on BTC, ETH, BNB, DOT, SOL, ADA, SHIB, DOGE, MATIC, and XRP.This transcript was prepared by a transcription service. In today's podcast, I cover how we can deal with these questions better. Those questions can center around "should I take profits" and "Will the market move higher or lower". But questions soon follow when the run-up slows down for all cryptotraders and investors. When Bitcoin and the crypto market go up hard and fast we are filled with joy.
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