This episode examines Satya Nadella's strategic vision for Microsoft, focusing on its blueprint for the next era of computing centered around artificial intelligence and quantum technologies. We outline a pragmatic AI strategy aimed at driving tangible economic growth, emphasizing an "overbuild" of compute infrastructure and a shift toward abundant, low-cost intelligence. Concurrently, it details Microsoft's audacious bet on topological quantum computing, acknowledging the significant scientific skepticism surrounding its claims while highlighting the intended synergy between AI and quantum for scientific discovery. We also discuss the re-architecture of work through an "agentic" software layer and discusses Microsoft's competitive landscape, its evolving relationship with OpenAI, and its efforts to navigate regulatory and ethical considerations in the AI space.