Big tech spending on data centers balloons to $850B, with Meta and Microsoft investing tens of billions

Meta and Microsoft are driving a surge in AI infrastructure spending, with Bloomberg reporting that future data-center lease commitments across major cloud firms have climbed above $850 billion. Meta added $79 billion in lease obligations in the latest quarter, bringing its total to $182.9 billion, while Microsoft’s commitments rose by more than $41 billion to $196.6 billion. The article signals that demand for data-center capacity, semiconductors, and energy remains strong as tech firms prepare for long-term AI growth. Oracle was a rare exception, with commitments edging lower, though it still holds the largest total future spending obligations due to earlier site acquisitions tied to OpenAI.