IBM senior vice president Arvind Krishna. Photo: IBM

IBM is announcing a series of moves Thursday designed to start recouping some of the $34 billion it just spent to buy open source specialist Red Hat.

Why it matters: IBM sees a $1.2 trillion opportunity in enterprise software, services and infrastructure by 2022. But competing effectively means being able to meet customers where they are at, says IBM senior vice president Arvind Krishna.

  • Customers, he said, are looking for the flexibility to host their own software one day, move that same setup to a cloud provider the next and still have the flexibility to change cloud providers down the road.
  • "We strongly believe there is a massive opportunity to create a common platform that goes across these clouds," Krishna said in an interview.

What's happening: Most notably, it is optimizing Red Hat's software to run on IBM's cloud and servers, and it's aiming to use Red Hat as a means to take IBM's other software into private clouds as well as rival cloud platforms from Microsoft, Google and Amazon.

Yes, but: The Red Hat deal closed only three weeks ago. Much of what IBM is announcing is actually the result of a partnership announced last year.

Separately: IBM has cut as many as 100,000 jobs over the last few years, Bloomberg reports, citing court documents.

Go deeper: Trying to make enterprise software fun

Go deeper

Ben Sasse emerges as GOP Trump critic ahead of November

Sen. Ben Sasse walks to the Senate from the subway to vote in June. Photo: Bill Clark/CQ-Roll Call via Getty Images

Sen. Ben Sasse (R-Neb.) has dialed up his spicy slams of President Trump, including this swipe at yesterday's signing ceremony: "The pen-and-phone theory of executive lawmaking is unconstitutional slop."

Why it matters: Trump increasingly looks — to business and to fellow Republicans — like a loser in November. So they're more likely to create distance to save their own skins. Sasse also won his May primary, further freeing him.

Pelosi: "States don't have the money" for Trump's unemployment order

House Speaker Nancy Pelosi claimed on "Fox News Sunday" that states don't have the funds to comply with the executive order President Trump signed on Saturday, which requires them to cover 25% of an additional $400 in weekly unemployment benefits.

Why it matters: Many state and local governments have had their budgets devastated by the economic impacts of the coronavirus, which have caused expenses to soar and revenues to plunge.

Kudlow says he regrets claiming Trump couldn't use executive order for unemployment

White House economic adviser Larry Kudlow said on CNN's "State of the Union" Sunday that he regrets suggesting this week that unemployment benefits can only be extended by Congress.

Why it matters: President Trump's decision to bypass Congress to sign four executive actions, including one that provides $400 per week in extra unemployment benefits, has prompted outcry from Democrats and even some Republicans who believe he is overstepping his constitutional authority.