Meta has committed to about $825B in future spending on leases and contracts, much of it for AI computing power and infrastructure, up from almost $700B three months earlier, according to its latest quarterly filing. Leases that haven’t started yet and don’t appear on its balance sheet account for $355.7B, up from $279B in July, and cover data centers and power infrastructure beginning between now and 2036. Another $454.5B sits in non-cancellable contracts, mostly for third-party cloud capacity, power deals for data centers, and Reality Labs hardware. Meta may also have to buy up to $14.7B in cloud capacity during the next five years, but that obligation shrinks if the provider resells it to other customers.
