Odaily Planet Daily reports that, according to Meta’s quarterly securities filing, the company has approximately $278.99 billion in operating and finance leases that have not yet commenced and are not reflected on the balance sheet, primarily related to AI data centers. These leases cover data centers, hosting facilities, and certain network infrastructure, with commencement scheduled from the remainder of this year through 2036, and lease terms ranging from over one year to 30 years.
This figure represents an approximately 53% increase over the $182.88 billion in future lease obligations disclosed by Meta in its quarterly filing three months ago. Meta also disclosed that, following the quarter-end in July, the company added approximately $68 billion in new data center lease commitments, expected to commence in 2027 and 2028, with lease terms of 18 to 20 years.
Earlier this month, Meta announced an expansion of its Louisiana AI data center, Hyperion, increasing its targeted computing capacity to 5 gigawatts, with the project’s expected cost exceeding $50 billion. During the Q2 earnings call, Meta CEO Mark Zuckerberg stated that a significant portion of the company’s computing power will be used to train AI models, power AI agents, and support core business operations.
In addition to future lease obligations, Meta disclosed $349.31 billion in non-cancelable contractual commitments covering both short-term and long-term arrangements. The company stated that these commitments primarily relate to third-party cloud capacity agreements, as well as investments in servers, network infrastructure, data centers, and Reality Labs consumer hardware products, with $53.52 billion and $81.65 billion maturing in 2026 and 2027, respectively.