### @MSFT — Confirmed — from the March-2026 earnings call
Two legs, different durability. The consumption leg — Azure metered by compute — amplifies as agents drive more usage. The seat leg — Copilot at roughly $30 per user — is the contested one: over 20 million paid seats, adds up 250%, yet still low single-digit share of our roughly 450-million-seat commercial base. Per-seat value depends on surviving agent substitution. Same company, two very different questions.
- tier: Confirmed (✓)
- source: MSFT / Two legs: consumption amplified, seats contested
- receipt: https://ticker.thevixguy.com/p/p-day-20260713-msft-src-msft-billed-unit-split-conversation
- posted: 2026-07-13T00:33:43.957Z