Microsoft Earnings Breakdown: CapEx, OpenAI and Anthropic Partnerships, and Buyout Plans

A Bloomberg Intelligence senior tech analyst joins the anchors to discuss Microsoft's latest earnings and what questions matter most on the upcoming analyst call. The conversation also covers Microsoft's relationships with OpenAI and Anthropic, the scale of its employee buyout offer, and key backlog figures from the report.

■ Earnings Call Priorities
- CapEx guidance for the next twelve months and any hints about 2027 spending
- Backlog growth from non-frontier enterprise customers beyond OpenAI and Anthropic

■ OpenAI vs. Anthropic at Microsoft
- The scale difference between the two partnerships
- ChatGPT hosting as a more stable revenue stream than model training
- Anthropic models as an option within GitHub Copilot and Microsoft 365 apps

■ Workforce Buyout Offer
- Take-rate assumptions compared with a previous buyout round
- Estimated headcount impact relative to the total workforce

■ Key Figures From the Report
- Overall backlog (remaining performance obligation) and growth excluding OpenAI
- The net income contribution from Microsoft's OpenAI investment

Investors, equity analysts, and technology-industry professionals can use this discussion to understand which metrics to watch when Microsoft's earnings call takes place, and how to interpret the headline numbers in context. It provides a concise orientation before reading the full report yourself.