Microsoft reported record annual revenue of $331 billion, up 18% year over year, with Microsoft Cloud revenue reaching $214 billion (up 27%) and Azure crossing the $100 billion annual revenue milestone after posting 41% growth. Following the earnings announcement, Chairman and CEO Satya Nadella outlined two priorities: building an AI system not tied to a single model family and accelerating Copilot. Nadella described a new model system where "the harness, context, memory, and action space are separate from any one model family," adding that "every model is substitutable" for business continuity and resilience. The system already powers Microsoft's products and will be available to enterprise customers through Microsoft Foundry. For Copilot, Nadella said user satisfaction scores have doubled over the last three quarters, and latency was cut by 25 percent this quarter. The number of conversations per user has nearly doubled compared with a year ago, and weekly engagement has reached levels comparable to Outlook and Teams. The number of customers deploying Copilot across more than 50,000 seats also increased.