Management stated the AI business surpassed a $37 billion annual run‑rate, up 123%, but that figure lives only in earnings commentary, not on any discrete filing line. The AI revenue is harnessed inside Azure, Microsoft 365 and GitHub, a non‑GAAP construct spoken on the call. The same tier gap runs through Copilot seat counts, Azure growth, the roughly $190 billion capex guidance and OpenAI deal terms, all disclosed in commentary while filings keep AI folded into existing segments. Reading us means noting which venue a fact is allowed to appear in.