Microsoft AI cash flow path looks clearer

$MSFT free cash flow is expected to nearly triple from about $55B in 2027 to around $165B by 2030.
The key driver is Copilot scaling across Microsoft’s existing enterprise customer base.
That gives Microsoft a cleaner AI monetization path than many hyperscalers.
The company is already embedded inside enterprise workflows, so AI revenue can attach to products customers already use.
For $MSFT, the bull case is not just AI infrastructure spending.
It is turning that spending into high-margin software revenue.