Microsoft and Meta Commit Nearly $50 Billion Each to Data Center Leases

Microsoft and Meta Platforms have each committed about $50 billion in new data center leases to expand computing capacity for artificial intelligence, according to a report by Dell'Oro Group. These commitments helped push total future lease obligations among leading cloud providers to over $700 billion.

The leasing surge includes long-term agreements spanning 15 to 19 years, covering data centers and related facilities. Microsoft’s total future lease commitments now stand at approximately $155 billion, while Meta’s reach $104 billion. Oracle leads with $261 billion in pending lease obligations, followed by Amazon and Google.

The Dell'Oro report noted that global data center capital spending rose 57% in 2025, with the top four U.S. cloud providers—Amazon, Google, Meta, and Microsoft—increasing their investments by 76%. Oracle more than tripled its capital expenditures to build capacity for its Stargate project. The firm expects total data center spending to surpass $1 trillion in 2026, reflecting continued AI infrastructure expansion.