Các tập đoàn công nghệ lớn cam kết 1,09 nghìn tỷ USD vào các hợp đồng thuê trung tâm dữ liệu chưa bắt đầu, gấp 4 lần nghĩa vụ đã xác nhận

The Huoxing Finance report, based on analysis of LSEG data and corporate filings by Reuters, reveals that Microsoft, Meta, Oracle, Amazon, and Alphabet have committed to future lease payments of approximately $1.09 trillion, primarily for AI data centers—a scale roughly four times their recognized lease liabilities (approximately $285 billion). These commitments have not yet been recorded on balance sheets but have been disclosed in the notes to financial statements. Microsoft has disclosed the largest amount at $329.1 billion; Meta has disclosed $278.99 billion and signed an additional $68 billion in new leases in July; Oracle has disclosed $260 billion, nearly seven times its recognized liabilities, with lease terms typically ranging from 15 to 19 years, and the company has warned of potential risks if customers do not renew or fail to fulfill obligations; Alphabet and Amazon have disclosed $85.2 billion and $137.21 billion, respectively. Analysis indicates that if demand for AI computing power continues to grow, these facilities will support the next phase of cloud business expansion; if demand falls short of expectations, companies may be forced to pay high costs for large amounts of long-term idle capacity. S&P Global Ratings has incorporated these undeclared leases into its adjusted debt forecasts for companies such as Oracle. This data underscores the potential long-term financial pressure on tech giants resulting from the expansion of AI infrastructure.