Bloomberg reported on October 13 that Microsoft had more than $130 billion in new data-center leases for the past quarter. The company’s commitments for leases not yet commenced totaled $329.1 billion as of June 30, 2026, up from $196.6 billion in the prior period, according to Bloomberg’s report carried by Yahoo Finance.
What Microsoft’s reported total covers
“Uncommenced” lease commitments are obligations for leases that have not yet begun. Bloomberg reported that the $329.1 billion total was in addition to active leases and that the future costs would not appear on Microsoft’s balance sheet until payments begin.
Bloomberg also reported that Microsoft described the commitments as primarily for data centers, with some subject to contractual conditions. The total therefore covers a broader set of commitments than a tally of money already paid or operating data-center capacity.
How much the reported balance changed
The reported uncommenced-commitment total rose by $132.5 billion: $329.1 billion minus $196.6 billion. That equals a 67.4% increase over the prior-period total of $196.6 billion.
This is the change in the reported balance. Bloomberg separately reported more than $130 billion in new leases; the two figures describe different measures. The $132.5 billion increase is not a tally of cash payments.
The earlier Microsoft–Meta comparison
In a separate analysis published June 24, Bloomberg put Microsoft’s future lease commitments at $196.6 billion as of March 31, 2026, and Meta’s at $182.9 billion. The same analysis reported more than $850 billion in future commitments among the largest cloud companies. Those March figures are an earlier snapshot, not a direct comparison with Microsoft’s June 30 total. Bloomberg’s June analysis
What the earlier lease pullbacks involved
In a Bloomberg Tech interview published February 24, 2025, TD Cowen analyst Michael Elias described channel checks that had identified selective pullbacks in certain U.S. markets beginning in September 2024. Elias said the activity mainly involved leases in process and facility-level power delays, rather than a broad retreat from signed leases. His comments describe that earlier period, not a current lease tally. The Bloomberg Tech interview with Michael Elias
