Plus, shares of nuclear-power producers tumble after regulators rejected a deal from Amazon to use more nuclear energy. And New York Times tech workers strike ahead of Election Day. Cordilia James hosts.
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[00:00:30] I'm Cornelia James for The Wall Street Journal.
[00:00:33] We're exclusively reporting that U.S. chip toolmakers, including Applied Materials and LAM Research, are telling suppliers they need to find alternatives to certain Chinese components or risk losing their vendor status.
[00:00:46] That's according to people familiar with the matter.
[00:00:49] The two Silicon Valley companies make equipment for chips and are among the world's biggest manufacturers of these tools.
[00:00:56] Suppliers have also been told that they can't have Chinese investors or shareholders.
[00:01:00] People familiar with the matter said,
[00:01:03] Industry executives say such moves are likely to raise costs because it won't be easy to find non-Chinese alternatives at similar prices.
[00:01:11] LAM Research said it adheres to U.S. export controls for companies in the chip manufacturing supply chain.
[00:01:17] Applied Materials said it identifies alternative sources for components to make sure they are available.
[00:01:23] Shares of nuclear power producers fell after regulators dealt a blow to an Amazon effort to use more nuclear energy.
[00:01:31] Amazon is one of several tech giants turning to the power source to fuel the rapid development of artificial intelligence.
[00:01:38] The Federal Energy Regulatory Commission late Friday blocked a request by Amazon and Talon Energy to siphon more electricity from a Pennsylvania nuclear plant to one of the internet retail company's data centers.
[00:01:51] Shares of Talon fell nearly 2.25%.
[00:01:54] Talon said it believed the regulator had erred and that the company was evaluating options with a focus on commercial solutions.
[00:02:02] Shares of Constellation Energy, which plans to restart Pennsylvania's three-mile island power plant to sell electricity to Microsoft, fell nearly 12.5%.
[00:02:11] Despite the negative stock reaction, analysts said the regulator's ruling was a minor setback in the industry's push to capitalize on nuclear energy amid a heated AI race.
[00:02:23] And New York Times technology staffers are striking after a long-running dispute with management, threatening to disrupt the newsroom ahead of Election Day.
[00:02:33] The Times Tech Guild walked off the job after midnight, citing issues such as remote and hybrid work protections and pay equity.
[00:02:40] The union said if the strike continues through tomorrow, it will be the first such labor stoppage to coincide with a presidential election in 60 years.
[00:02:50] The union asked readers to, quote, honor the digital picket line and also not play Times games such as Wordle or use the Times cooking app.
[00:02:59] The Times said while it respects the union's right to engage in protected actions, it was, quote, disappointed that colleagues would strike at this time, which is both unnecessary and at odds with our mission.
[00:03:11] For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.