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► Subscribe to the free ARPU newsletter: https://arpu.hedder.com?utm_source=yt... ► For a technical deep dive, check out our full intelligence: https://arpu.hedder.com/arpu-intellig... Microsoft has added over two trillion dollars in market value since the launch of ChatGPT, cementing its position as a four-trillion-dollar behemoth. But how has this fifty-year-old incumbent so thoroughly dominated AI monetization while its cloud-native rivals have stagnated? The answer isn't a single breakthrough model. It's the result of a decades-long strategy to construct an enterprise ecosystem with immensely high switching costs—a fortress that now serves as a proprietary distribution channel for its premium-priced AI services. Microsoft doesn't have to sell AI into a competitive market; it simply installs it as an upgrade for a captive one.