Ambiguity is one of those cards players keep asking about. Here is, in plain words, what its official text says, the rulings published by Wizards of the Coast, and the combos players actually run.

Official card text

Whenever a player plays a spell that counters a spell that has been played or a player plays a spell that comes into play with counters, that player may counter the next spell played or put an additional counter on a permanent that has already been played, but not countered.