Microsoft, Meta, Oracle, Amazon, and Alphabet have committed about $1.09 trillion in future uncommenced lease payments, mainly for AI data centers, according to Reuters analysis of LSEG data and company filings. According to ChainCatcher, the amount is roughly four times the companies’ confirmed lease liabilities of about $285 billion.

Microsoft disclosed the largest amount at $329.1 billion, while Meta disclosed $278.99 billion and signed an additional $68 billion in leases in July. Oracle disclosed $260 billion, nearly seven times its confirmed liabilities, with lease terms generally ranging from 15 to 19 years. Oracle has also warned it could face risks if customers do not renew or are unable to meet their obligations. Alphabet disclosed $85.2 billion, and Amazon disclosed $137.21 billion.

Analysts said the facilities could support the next stage of cloud expansion if AI compute demand continues to grow, but companies could face high costs for large amounts of long-term idle capacity if demand falls short. S&P Global Ratings has included Oracle and similar companies’ uncommenced leases in its adjusted debt forecasts. The data underscores the potential long-term financial pressure tied to the expansion of AI infrastructure among major technology companies.