Azure API Management AI Gateway adds OpenTelemetry observability and cost limit policies
The AI Gateway tier of Azure API Management now emits OpenTelemetry logs, traces, token metrics, and estimated cost metrics, and supports calendar-based cost limit policies that can block requests when projected budgets are reached. The update also refines provider onboarding and expands Anthropic Messages compatibility. Because spend figures are estimates, teams using hard blocks should verify the gap between projections and final billing.