The AI arms race continues to escalate! Meta (META.US) and Microsoft Corporation (MSFT.US) are increasing their investments in data center infrastructure. The industry's future leasing commitments have surpassed 850 billion US dollars.

As global tech giants continue to ramp up the construction of artificial intelligence (AI) infrastructure, data center investment is climbing at an unprecedented pace. The latest regulatory filings show that Meta Platforms (META.US) and Microsoft Corporation (MSFT.US) have each added billions of dollars in data center leasing commitments in the last quarter, pushing the total future data center leasing expenditure of major cloud computing companies worldwide to exceed $850 billion. According to media analysis of corporate regulatory filings, large cloud computing and AI companies including Meta, Microsoft Corporation, Amazon.com, Inc. (AMZN.US), Oracle Corporation (ORCL.US), and CoreWeave now have total future data center leasing commitments exceeding $850 billion, with steady growth over the past year. These future leasing commitments are primarily for data center construction and operations, and also involve infrastructure such as office buildings and storage facilities. The related expenses will gradually appear on the financial statements after the companies begin paying rent, and some contracts include exit clauses under specific conditions. In the most recent quarter, Meta became the tech company with the largest increase in leasing commitments. Data shows that as of March 31, Meta added approximately $79 billion in future leasing commitments, a 76% increase from the previous quarter, bringing its total leasing commitments to $182.9 billion. Meta's CEO, Mark Zuckerberg, had previously stated that the company plans to invest billions of dollars in AI infrastructure by the end of this decade to support the development of its AI model training, inference, and future super-intelligence strategy. Microsoft Corporation follows closely behind. As of the latest quarter, Microsoft Corporation added over $41 billion in future leasing commitments, bringing the total to $196.6 billion. Despite Microsoft Corporation's continuous expansion of AI computing power in recent years, data center capacity constraints remain a significant challenge for the company. Previously, Microsoft Corporation had slowed down data center leasing for most of 2025 to digest existing capacity pressure. However, this week, Microsoft Corporation announced a partnership with Chevron Corporation (CVX.US) to accelerate a large data center campus project in western Texas, indicating a renewed acceleration of its AI infrastructure expansion plan. Both Meta and Microsoft Corporation have declined to comment on the data. In contrast, Oracle Corporation's future leasing commitments have slightly decreased from the previous quarter. However, analysts point out that Oracle Corporation had already secured a large amount of data center resources earlier to meet its significant AI computing power cooperation agreement with OpenAI, making it one of the largest companies in terms of future data center spending commitments. As for Amazon.com, Inc., it added approximately $10 billion in leasing commitments this quarter, maintaining growth but less than half the added scale of the previous quarter. The future leasing commitments of AI cloud service provider CoreWeave have remained relatively stable, with minimal changes over the past two quarters. Market analysis suggests that the future leasing commitments exceeding $850 billion indicate that the global tech industry is constructing AI infrastructure on an unprecedented scale. It is worth noting that these expenses will not be released all at once in the short term, but will be gradually realized over the next ten to twenty years. This also means that the data center related industry chain, including semiconductors, servers, network equipment, power supply, and energy infrastructure, among other areas, is likely to continue benefiting from the AI investment boom for many years to come. Analysts point out that despite recent discussions in the market about whether AI capital spending is overheated, the industry's strong expectations for future growth in AI computing power are evident in the continuous signing of long-term data center contracts by tech giants. As companies like Meta, Microsoft Corporation, Amazon.com, Inc., and Oracle Corporation expand their computing power layout, the AI infrastructure investment cycle may still be in its early stages.