Lates News

Meta Platforms (META.O) said it has agreed to spend about $825 billion in the future on various leases and contracts, many of them involving artificial intelligence computing capacity and infrastructure. In a filing on Thursday, the company said the value of operating and finance lease assets not currently recorded on the balance sheet is $355.7 billion, including data center and energy infrastructure leases beginning from the remainder of this year through 2036. As of September 30, the company had an additional $454.5 billion in irrevocable short-term and long-term contracts. Many of these relate to third-party cloud computing capacity, 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 computing capacity within five years, but that amount could be reduced if the cloud service provider sells that capacity to other customers.