US Tech Giants Commit Record $850B to AI Data Center Leases
US tech companies are committing a record $850 billion to data center leases over the next several years, a 204% year-over-year increase. Meta, Microsoft, and Oracle lead the spending surge.
The AI infrastructure buildout is accelerating, with US tech companies committing a record $850 billion to data center leases over the next several years. This marks a $570 billion year-over-year increase (+204%) and a $200 billion quarter-over-quarter rise (+31%).
Meta ($META) added the most in Q1 2026, committing $79 billion in new leases—a 76% QoQ increase—bringing its total to roughly $183 billion. Microsoft ($MSFT) added $41 billion (+26% QoQ), bringing its total to about $197 billion. Oracle leads with the largest total commitments at ~$250 billion, having secured key sites for its contract with OpenAI.
Tech firms are doubling down on AI, with no signs of slowing the pace of infrastructure spending.
Source: The Kobeissi Letter