The hyperscale cloud service providers have already committed to a record total of up to $2.6 trillion in future spending on data center leasing and equipment procurement.
This includes leases for data centers and power infrastructure that have not yet started, as well as existing equipment and services procurement contracts.
These obligations do not appear on the company balance sheets and are disclosed only in a limited number of accounting notes, despite their enormous scale and duration.
Alphabet, $GOOGL , with the largest total, has procurement commitments of $81.1 billion; leasing commitments that have not yet started of $8.5 billion; and total obligations of approximately $89.6 billion.
By contrast, Oracle, $ORCL , has committed to purchase $32 billion, but has leasing commitments that have not yet started of $260 billion, which is the largest leasing obligation in this group, with a total of approximately $292 billion.
AI infrastructure buildout has become one of the largest long-term capital commitments in corporate history.
This includes leases for data centers and power infrastructure that have not yet started, as well as existing equipment and services procurement contracts.
These obligations do not appear on the company balance sheets and are disclosed only in a limited number of accounting notes, despite their enormous scale and duration.
Alphabet, $GOOGL , with the largest total, has procurement commitments of $81.1 billion; leasing commitments that have not yet started of $8.5 billion; and total obligations of approximately $89.6 billion.
By contrast, Oracle, $ORCL , has committed to purchase $32 billion, but has leasing commitments that have not yet started of $260 billion, which is the largest leasing obligation in this group, with a total of approximately $292 billion.
AI infrastructure buildout has become one of the largest long-term capital commitments in corporate history.