U.S. tech companies increased their commitments for data center leases to over $850 billion in the first quarter of 2026, setting a record high in the race to build artificial intelligence infrastructure.
Spending Increases Quarter Over Quarter
The total shows a $570 billion increase compared to the same period last year, a 204% rise. It also reflects a $200 billion increase from the previous quarter, up 31%, according to Bloomberg data cited by market commentator The Kobeissi Letter on X, based on company filings.
The AI infrastructure buildout is entering a new phase:
— The Kobeissi Letter (@KobeissiLetter) July 5, 2026
US tech companies are committing to spend a record $850 billion on data center leases over the next several years.
This marks a +$570 billion YoY increase, or +204%, and +$200 billion QoQ increase, or +31%.
Meta, $META,… pic.twitter.com/ewGlpkYXqi
Gap Widens Among Top Spenders
Based on data cited on X, company filings indicate that the gap between the largest spenders is getting wider.
Meta Platforms Inc. (NASDAQ:META) added the most new data center leases in the first quarter of 2026, committing $79 billion, which is a 76% increase from the previous quarter. This brought its total commitment to about $183 billion.
Microsoft Corp. (NASDAQ:MSFT) added $41 billion, up 26% quarter-over-quarter, taking its total to around $197 billion.
Oracle Corp. (NYSE:ORCL) has the largest overall commitment at about $250 billion, after securing key sites linked to its contract with OpenAI.
Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) and CoreWeave Inc. (NASDAQ:CRWV) are also among the biggest lessors driving the sector’s expansion since 2023.
Backlash Also Builds
The spending spree comes irrespective of local communities’ intensifying pushback over water use, power costs and pollution. Billionaire investor Mark Cuban has urged towns to hold AI firms accountable only when data centers cause documented damage.
A Gallup survey found 71% of Americans oppose data centers near their communities, while research firm Data Center Watch estimated $130 billion in U.S. projects were blocked or delayed in the first quarter alone.
How the Stock Performance Looks
| Company | YTD Performance | Market Cap |
|---|---|---|
| Meta | -10.38% | 1.48T |
| Microsoft | -17.43% | 2.90T |
| Oracle | -28.33% | 404.04B |
| Alphabet | +14.20% | 4.36T |
| Amazon | +7.14% | 2.61T |
| CoreWeave | +3.06% | 44.60B |
Photo Courtesy: Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
