Bloomberg Tech Podcast Summary
Episode: Amazon Cutting 16,000 Jobs, ASML Reports Record Bookings
Date: January 28, 2026
Hosts: Caroline Hyde (New York), Ed Ludlow (San Francisco)
Podcast Theme: The latest technology news with a focus on business impact, industry trends, earnings, and the evolving AI landscape.
Overview
This episode covers sweeping tech sector layoffs—most notably 16,000 cuts at Amazon and 1,700 at ASML—alongside record bookings for ASML and robust signals in the semiconductor industry. The hosts and expert guests dig into the market’s mixed reactions, the sustainability of AI-driven growth, tensions in U.S.–South Korea tech trade, and major funding moves such as SoftBank’s interest in pouring up to $30B into OpenAI. The episode also explores company-specific stories from Microsoft, Tesla, ServiceNow, Wabi, and Meta, all set against a volatile market and AI’s relentless rise.
Key Segments & Insights
1. Amazon Announces 16,000 Corporate Layoffs
Summary & Context:
- Amazon announced it will cut 16,000 corporate positions globally to “remove layers of bureaucracy” and “increase ownership.”
- This follows an earlier wave of 14,000 corporate cuts in October 2025, bringing Amazon's total recent layoffs to 30,000—the largest in its corporate history.
Key Points:
- Focus is on eliminating middle management, in line with CEO Andy Jassy’s 2025 messaging: “More people who are doing the direct work and fewer people managing the work in the middle.” (Spencer Soper, [32:04])
- Some departments delayed cuts until after the holiday season, accounting for the split between October and January layoffs.
- Amazon leadership stresses this is not intended as a recurring process, but language in internal statements remains noncommittal.
- Despite assurances, internal statements are described as “corporate gobbledygook... trying to strike that tone between reassuring employees but also not making any promises.” (Spencer Soper, [33:31])
Notable Quotes:
- "30,000 last three months is a huge amount." — (Host, [33:00])
- “…Not making any promises… it’s kind of just noncommittal gobbledygook if you really read it carefully.” — (Spencer Soper, [33:31])
2. ASML Cuts Jobs Amid Record Bookings
Summary & Context:
- ASML, the pivotal Dutch maker of semiconductor lithography equipment, posts its 13th consecutive year of growth and all-time record Q4 bookings, but announces 1,700 job cuts (~4% of workforce) aimed at boosting efficiency.
Key Points:
- Demand remains strong from AI and chipmakers (e.g., TSMC, Micron), but market reacts nervously, with shares turning negative despite strong orders.
- Analyst Pierre Ferragu (New Street Research) explains the market sees 2026 as "peak spending year," anticipating a slowdown in growth rate—even if overall demand remains robust.
- Semiconductor capital equipment growth lags chipmaker growth due to timing and the nature of equipment purchases.
- ASML CEO Christophe Fouquet remains bullish: “The semi industry… customers start to believe that this demand is sustainable and they are moving very aggressively.” ([09:02])
Notable Quotes:
- “This is the idea that semicap players are driven by incremental capacity, not by growth directly.” — Pierre Ferragu, [12:02]
- “We have all been surprised by the magnitude of AI… I think sustainability is a key word… are these investments going to last?” — CEO Christophe Fouquet, [14:06]
Timestamps:
- ASML interview: [08:35–14:30]
3. Semiconductor Industry Outlook: Texas Instruments, SK Hynix
Summary & Context:
- Texas Instruments shares soar after strong Q1 outlook, suggesting inventory glut is clearing.
- Analysts see TI as a key bellwether for industrial and automotive chip demand.
Key Points:
- Improving indicators in industrial and auto segments; data centers also strong.
- Consumer electronics is slowing, but memory prices continue to climb, benefiting companies like SK Hynix.
- SK Hynix is launching a new AI data center solutions firm in the U.S., showing ongoing U.S.-Korea tech integration.
Quote:
- “Everything that’s got an on and off switch, that’s where [Texas Instruments] are.” — (Host, [19:30])
4. U.S.–South Korea Trade Tensions
Summary:
- The U.S. demands implementation of a six-month-old trade deal to avoid raising tariffs on Korean goods to 25%.
- Tension centers around insufficient Korean investment in the U.S. chip industry, with South Korea’s promised $350B plans stalled in parliament due to internal economic pressures.
Key Points:
- U.S. warning: “Time is up and South Korea needs to start moving, otherwise the US will move to the next step…” ([35:44])
- Broader impact for semiconductor supply chain and global tech alliances.
5. SoftBank Eyes Massive New Investment in OpenAI
Summary & Context:
- SoftBank reportedly in talks to invest up to $30B more in OpenAI, on top of its existing 11% stake.
- This potential investment is part of a broader funding round targeting a valuation between $750B–$850B.
Key Points:
- SoftBank selling down Nvidia stake is interpreted as raising cash to make new AI investments.
- SoftBank’s approach highlights ongoing “AI bubble” debates, as analysts weigh whether anyone is a clear winner yet.
Quote:
- “He is literally betting the house on OpenAI.” — (Linda Wan, [44:40])
6. Microsoft, Meta, and the AI Data Center Arms Race
Summary:
- Azure’s cloud growth is expected to exceed guidance thanks to increased OpenAI training demand.
- Major focus on data center build-out and whether capacity will keep up with generative AI demand.
- Meta (Facebook) likewise faces investor questions around sky-high planned capital expenditures ($111B in 2026), mostly for AI infrastructure.
- Both companies must show AI investments are translating into real (ad) revenue.
Notable Quotes:
- “We think Microsoft is very well positioned as a platform to deliver on all parts of that stack and journey, the most important metric being Azure.” — Alex Zukin, Wolf Research ([55:11])
- “For Microsoft, security is a critical piece of the puzzle that will help them gain share…” — Alex Zukin ([58:45])
- “A lot of their futuristic bets… are not driving meaningful revenue to the company and yet they are sucking tons of cash to operate.” — Kurt Wagner on Meta ([1:10:58])
7. Wabi Raises $1 Billion: Self-Driving & Physical AI
Summary:
- Canadian autonomous vehicle startup Wabi secures $1B in funding (including $750M Series C, led by Khosla Ventures and $250M milestone-based commitment from Uber).
- Wabi aims to lead in both trucking and robotaxi segments, boasting a platform that can handle both.
Key Points:
- Uber’s funding is contingent on robotaxi milestones, though details are undisclosed.
- Wabi’s CEO, Raquel Urtasun, notes the U.S. is ahead of Canada in autonomous vehicle regulation and market-readiness.
- Talent wars in AI: Wabi attracts top researchers thanks to its mission and unique technology.
Quotes:
- “…for the first time in the industry, [Wabi] will be able to drive both form factors, robotaxis as well as select trucks.” — Raquel Urtasun ([1:01:29])
- “If you’re interested in a once-in-a-lifetime opportunity to really change the world… Wabi is the place to be.” — Raquel Urtasun ([1:04:51])
8. Tesla Pre-Earnings: AI & Robots or Fundamentals?
Summary:
- Tesla’s Q4 sales dropped ~15%, but stock remains steady as investors split between focusing on near-term fundamentals and long-run AI/robotics (robotaxi, Cyber Cab, Optimus).
- Upcoming “pivot” year in 2026 for Tesla’s AI and robotics is anticipated.
Key Insights:
- Investors want to hear concrete plans for scaling self-driving, robotaxi rollout, and subscription services.
Quote:
- “Investors are really looking for Elon Musk to tell them that hey, in the next three to six months we are really going to scale it up beyond Austin.” — Steve Man, Bloomberg Intelligence ([1:09:09])
9. Tech Earnings and Market Sentiment
Summary:
- Mag 7 (big tech firms) begin reporting; volatility expected around fundamentals vs. massive capex promises.
- Seagate, Texas Instruments report strong numbers—indicating an improving industrial chip cycle, while memory remains a focus.
- The debate continues over whether AI spending is justified or entering bubble territory.
Notable Quotes by Segment
| Time | Speaker | Quote | |-----------|---------------------------|--------------------------------------------------------------------------------------------------------------------------| | 09:02 | Christophe Fouquet (ASML) | “The last three months have brought a lot of clarity… customers start to believe that this demand is sustainable…” | | 12:02 | Pierre Ferragu | “Semicap players are driven by incremental capacity, not by growth directly.” | | 14:06 | Christophe Fouquet (ASML) | "We have all been surprised by the magnitude of AI… sustainability is a key word. Is this going to last?" | | 33:31 | Spencer Soper (Amazon) | “It’s really corporate gobbledygook… trying to strike that tone between reassuring employees but also not making promises.”| | 44:40 | Linda Wan (SoftBank) | “He is literally betting the house on OpenAI.” | | 55:11 | Alex Zukin (Wolf Research)| “We think Microsoft is very well positioned as a platform to deliver on all parts of that stack and journey…” | | 58:45 | Alex Zukin | “For Microsoft, security is a critical piece of the puzzle that will help them gain share…” | | 1:01:29 | Raquel Urtasun (Wabi) | “For the first time in the industry, [Wabi] will be able to drive both form factors, robotaxis as well as selecting trucks.”| | 1:04:51 | Raquel Urtasun (Wabi) | “If you’re interested in… really changing the world… Wabi is the place to be.” | | 1:09:09 | Steve Man (Tesla) | “…really looking for Elon Musk to tell them that hey, in the next three to six months we are really going to scale it…” | | 1:10:58 | Kurt Wagner (Meta) | “…a lot of their futuristic bets… are not driving meaningful revenue to the company and yet they are sucking tons of cash…”|
Closing Thoughts
The episode masterfully captures a moment of inflection in tech: massive optimism and risk-taking in AI and chips, paired with waves of cost-cutting and cautious market sentiment. While companies like Amazon and ASML undergo historic workforce changes, industry giants from SoftBank to Microsoft are betting ever larger on the durability and future payoffs of AI. With the “AI bubble” debate alive and investors seeking both proof and vision, the market remains volatile—and the stakes, undeniably high.