The seat-billed leg — Copilot at roughly $30 per user — is the contested one. Two priorities: first, over 20 million paid seats, adds up 250%, customers above 50,000 seats quadrupling, Accenture at 740,000 seats our largest win. Second, the hedge: penetration remains low single-digit of our roughly 450-million-seat commercial base, and per-seat value depends on surviving agent substitution as agents do more work. The consumption leg amplifies; the seat leg carries a durability question.