Meta Reports $825 Billion in Future Spending Commitments

Meta Platforms Inc. said it has agreed to spend about $825 billion in the future on various leases and contracts, many of them related to computing power and infrastructure for artificial intelligence.

Operating and finance leases not yet included on Meta’s balance sheet are valued at $355.7 billion, the company said in a filing Thursday. That includes data centers and energy infrastructure leases starting during the remainder of this year through to 2036.

As of Sept. 30, the company separately had $454.5 billion in non-cancellable short- and long-term contracts. Many of those were related to third-party cloud computing power, energy agreements for data centers, or consumer hardware products for its Reality Labs division.

Meta also said it is obligated to purchase up to $14.7 billion of cloud capacity over five years, though that amount might decrease if the cloud service provider sells to other customers.

During Meta’s quarterly earnings report Wednesday, the social-media giant boosted its capital spending plans for the year and announced a new class of nonvoting stock that could ultimately be used to help pay for acquisitions and other expenses.

In July, Meta reported future spending commitments of almost $700 billion.