Is it <waves hands towards the sky> AI? or is it years of overhiring?
There was a great article I found on HN recently about how the recent layoffs in big tech are actually the result of overhiring for years in a talent arms race.
Like, is AI now doing the former work of 25,000 people at Microsoft? Probably not.
Almost certainly not AI, just more users going from hosted windows solutions to azure + office upsell (eg with Teams). Microsoft pretty much dominates the non Apple Desktop ecosystem and is used heavily by healthcare, defense and manufacturing industries.