Microsoft: I have increased my position - AI agents are igniting the next revenue lever for Copilot and Azure

I have increased my position in Microsoft (i) because my thesis about the agent era is increasingly being confirmed. Huawei expects that global token consumption will increase by a factor of 100,000 by 2035, with more than 90% of the traffic generated by AI agents. Microsoft sits in the right place for me in this development. Azure grew by 43% recently and is accelerating to 45% this quarter. At the same time, customer demand continues to exceed available capacity. However, I find the developments in Copilot even more exciting. Microsoft is expanding...