Aug. 11 at 5:46 PM
We’re witnessing one of the largest CapEx spending sprees in corporate history.
Hyperscalers have committed roughly
$2.6T in future spending across data center leases, power infrastructure, equipment, and services.
Much of this spending hasn’t hit balance sheets yet, with obligations disclosed only through limited accounting footnotes despite their enormous scale and duration.
$GOOGL leads with ~
$811B in purchase commitments plus
$85B in uncommenced leases roughly
$896B total.
Meanwhile,
$ORCL has ~
$32B in purchase commitments and a massive
$260B in future lease obligations, bringing its total to ~
$292B.
The takeaway: the AI infrastructure buildout is becoming one of the largest long-term corporate capital commitments in history.
$AEVA $ALB $APLD