Facebook parent Meta Platforms has about $825 billion (£615.6bn) in future spending commitments, mostly on leases and contracts related to AI computing infrastructure, the company said in a filing.

The firm has $355.7bn in operating and finance leases not yet included on its balance sheet, according to the 22 October filing.

As of 30 September, the company said it had $454.5bn in non-cancellable short- and long-term contracts for costs such as third-party cloud capacity, energy agreements for data centres, and consumer products for Reality Labs, the unit that makes its popular smart glasses.

The company is also obligated to purchase up to $14.7bn in cloud compute capacity over five years, a figure which could decrease if the cloud service provider found other customers for the capacity.

In July, Meta said it had nearly $700bn in future spending commitments.

The figures followed Meta’s quarterly earnings report on 21 October, in which it raised its low-end for capital expenditures this year to $135bn from $130bn, with the bulk of the spending going to data centres.

Meta’s free cash flow turned negative for the three months to 30 September, falling to negative $2.12bn, down from $784m at the end of June and $8.55bn as of June 2025.

Surging ad sales

The social media firm said it would issue a new class of non-voting stock in January, giving it a new way to raise financing, pay employee compensation, and carry out acquisitions.

The new shares are to be create through a two-for-one stock split.

Meta’s massive spending is being fuelled by its healthy online advertising revenues, which reached $64.6bn in the third quarter, up 26 percent from a year earlier.