Satya Nadella on Microsoft's agent bet and AI’s trust problem

Nadella frames agents as a TAM expansion bigger than cloud, restructuring Microsoft's reporting to prove it captures value across the full AI stack.

• Agent TAM claim: Nadella says the agent era will be bigger than cloud "by orders of magnitude," citing 30+ million paid Copilot enterprise subscribers growing faster than any prior Microsoft product including Teams.
• Autopilot built on OpenClaw: Microsoft's new digital-teammate agent hardens Peter's open-source OpenClaw harness into Copilot's co-work/code/autopilot stack, adding cloud VMs, memory, auditability and governance for long-running tasks like invoice management.

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