Meta's future spending commitments rise to about $825 billion, with AI compute investment continuing to increase

In its quarterly filing, Meta disclosed total future spending commitments of about $825 billion, including $355.7 billion in leases for data centers and energy facilities and $454.5 billion in non-cancelable purchase commitments, nearly doubling within half a year from $182.9 billion and $237.7 billion at the end of March this year. In the third quarter, Meta's capital expenditures of $34.91 billion exceeded operating cash flow of $32.79 billion, and free cash flow for the quarter was negative $2.12 billion, compared with positive $10.63 billion in the same period last year. The company also raised its full-year capital expenditure forecast and announced the creation of non-voting Class C common stock that can be used for capital raising.