In its quarterly securities filing released a day after its earnings report, Meta said it had approximately $278.99 billion in operating and finance leases that have not yet begun and were not yet included on its balance sheet. The lease agreements cover "data centers, colocations, and certain network infrastructure" and were scheduled to begin between the remainder of the year through 2036, with lease terms ranging from more than one year to 30 years. The nearly $279 billion figure represents a roughly 53% jump from the $182.88 billion in future lease obligations Meta reported in its first-quarter filings three months earlier. In July, after the quarter ended, Meta entered into additional data center leases with commitments of about $68 billion, expected to begin in 2027 and 2028 with lease terms of 18 to 20 years. Earlier this month, Meta announced plans to expand its Louisiana data center, known as Hyperion, to 5 gigawatts of compute capacity, bringing the project's anticipated cost to more than $50 billion. On Meta's second-quarter earnings call Wednesday, CEO Mark Zuckerberg said a "significant portion" of the company's computing capacity will be used to train its AI models, power AI agents, and support its core business, and that Meta expects to "grow a large business serving large customers as well." Separate from future lease obligations, Meta reported $349.31 billion in non-cancelable contractual commitments, mostly relating to third-party cloud capacity arrangements