Meta has disclosed approximately $825 billion in total future commitments for leases and contracts, up from nearly $700 billion reported as of July 30, 20261,2. The filing, reported by Sarah Frier of Bloomberg on October 22, 2026, details the scale of obligations Meta has locked in to support its AI infrastructure expansion.
The $825 billion figure spans two categories: non-cancelable contracts and long-term leases, primarily for physical space and capacity to run AI workloads at scale. As of the second quarter of 2026, non-cancelable commitments stood at $349.3 billion, while leases signed but not yet started totaled $279 billion. Off-balance-sheet leases alone total $355.7 billion through 2036.
The long-term commitments sit on top of Meta's already elevated near-term capital expenditure plan. As of October 21, 2026, Meta's capex guidance for 2026 stood at $135 billion to $145 billion, raised from a prior range of $130 billion to $145 billion. Meta spent $72 billion on capex in 2025, meaning even the low end of the 2026 range nearly doubles last year's outlay.
ANALYSIS The growth in total future commitments from nearly $700 billion in July to approximately $825 billion by October indicates Meta is continuing to sign large new infrastructure deals rather than merely drawing down existing obligations. The combination of rising long-term lease exposure through 2036 and a capex plan that has only moved upward suggests the company is building for sustained, multi-year AI compute demand rather than a single product cycle.