The $3.56 Trillion Off the Balance Sheet: AI Compute Commitments Tracker
Data as of 2026-10-22 · updated monthly · every line sourced to the filing
The answer
By our arithmetic from the latest 10-Q/10-K filings on SEC EDGAR (as of 22 Oct 2026), Alphabet, Meta, Microsoft, Nvidia, Oracle, Amazon, Broadcom and SpaceX list about $3.56 trillion of off-balance-sheet commitments. About $3.27 trillion of it is purchase commitments ($2.03T) and leases not yet commenced ($1.25T); the rest ($287B) is guarantees, investment, contingent and other lines. Meta ($866B, 30 Sep) is now level with Alphabet ($871B, 30 Jun).
Company totals
Alphabet
$871B
6 lines · sourced detail
Meta
$866B
4 lines · sourced detail
Microsoft
$558B
3 lines · sourced detail
Nvidia
$426B
8 lines · sourced detail
Oracle
$322B
2 lines · sourced detail
Amazon
$286B
3 lines · sourced detail
Broadcom
$202B
4 lines · sourced detail
SpaceX
$27.9B
1 lines · sourced detail
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The full tracker: all 31 sourced lines, what the $3.56T is made of, our count vs the market chart, and what it means
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Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
