Meta disclosed in a quarterly securities filing that it has about $278.99 billion in operating and finance leases that have not yet begun and are not recorded on the balance sheet, with most of the commitments tied to AI data centers.
The leases cover data centers, colocation facilities and some network infrastructure. They are set to commence from the remainder of this year through 2036, with lease terms ranging from more than one year to 30 years.
The amount is about 53% higher than the $182.88 billion in future lease obligations Meta disclosed in its first-quarter filing three months ago.
Meta also said that in July, after the end of the quarter, it added roughly $68 billion in new data-center lease commitments. Those are expected to begin in 2027 and 2028, with terms of 18 to 20 years.
Earlier this month, Meta announced an expansion of its Hyperion AI data center in Louisiana, raising the target compute capacity to 5 gigawatts. The project is expected to cost more than $50 billion.
Meta CEO Mark Zuckerberg said on the company’s second-quarter earnings call that a substantial portion of its computing capacity will be used to train AI models, power AI agents and support core business operations.
Beyond future lease obligations, Meta disclosed $349.31 billion in non-cancelable contractual commitments covering both short-term and long-term arrangements. The company said those commitments mainly relate to third-party cloud-capacity arrangements, as well as investments in servers, network infrastructure, data centers and Reality Labs consumer hardware products. Of that total, $53.52 billion and $81.65 billion are due in 2026 and 2027, respectively.