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Bloomberg Tech is live from coast to coast with Caroline Hyde in New York and Ed Lovlo in San Francisco.

This is Bloomberg Tech coming up. Amazon cuts 16,000 corporate jobs to remove layers of bureaucracy and, quote, increase ownership.

Plus, ASML also announcing job cuts to boost efficiency and posting strong fourth quarter orders.

And sources tell Bloomberg that SoftBank is in talks to invest as much as $30 billion more into Open AI. Let's check in on these markets though, because there's been some interesting whipsawing

ASML among them, but we go more macro right now.

At one point, we saw the S&P 500 above that $7,000 level.

We have never seen that before. And that is as we see the momentum in AI continuing, but we have a crucial Fed meeting. What is going to be put to J-Pow later today about independence of the Federal Reserve? We're not thinking that there will be any move in terms of rates. But still there's nervousness. Nervousness around Iran as well, Ed, there's a lot to be focusing in on. But for now, now that 100 holds on to its gains of 4 tenths percent. What are you looking at? The breaking new story of the morning, Amazon is cutting 16,000 more corporate roles, eliminate middle management, streamline. It confirms a lot of what Bloomberg had already reported. The stock kind of bouncing around in the session, now softer by 7 tenths of 1%. We're going to get to that later in the program and go deep

on what's happening in Amazon and tech more broadly. Then there's ASML. At one point in the

session, up more than 7% and pushing to a fresh record high. Great blockbuster bookings,

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