210 AI Monetization – ‘AI Product’ = Microsoft AI Revenue +175% to $13B Y/Y Microsoft AI Product Revenue – 2023-2024, per Microsoft Note: Microsoft AI revenue likely includes Azure AI services, Microsoft 365 Copilot, GitHub Copilot, Dynamics 365 Copilot, Azure OpenAI Services, and others. Detailed breakdowns not provided on earnings calls. Source: Microsoft Press Release, ‘Microsoft Cloud and AI strength drives second quarter results’ (1/25); & other Microsoft announcements We are innovating across our tech stack and helping customers unlock the full ROI of AI to capture the massive opportunity ahead… …Already, our AI business has surpassed an annual revenue run rate of $13 billion, up 175% year-over-year. - Microsoft CEO Satya Nadella, 1/25 Annual Run-Rate Revenue, $B Estimated Microsoft AI Product Annual Run-Rate Revenue ($B) AI – Tech Incumbents = Rapid Revenue + Customer Growth ~$5B $13B $0 $5 $10 $15 2023 2024 Q1:25 Earnings Call (4/30/25): Revenue from our AI business was above expectations. Commercial bookings increased 18%. - Microsoft CFO Amy Hood