Company research / Infrastructure investment

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Company capital expenditure, compute capacity and the projects behind the buildout.

YEAR-END IT CAPACITY / GW²

Recorded project schedules · 2026–2032 · Reviewed 19 October 2026.

Research snapshot · 19 Oct 2026

01 / Company investment

Capital expenditure

2026 capital expenditure: actual spending and guidance

USD billionsFull-year guidance $130–145B

H1 actual

$50.92B

H2 implied

$79.08–94.08B

Guidance range

Company-wide CapEx, including finance-lease principal; AI spending is not separately disclosed. H1 actual combines Q1 ($19.84B) and Q2 ($31.08B). H2 is full-year guidance less H1 actual, rather than separate management guidance.

02 / Compute supply

Annual compute capacity

Year-end IT capacity across the tracked AI project portfolio.²

1.90 GWQuantified operating AI capacity

YEAR-END IT CAPACITY / GW

Operating todayEarlier scheduled additionsAdded in year

2.12

3.02

3.76

4.76

6.76

9.76

Year end · Annual additions shown below each year · Select a year for project detail

Scheduled additions

2030

+2,000 IT MW

Hyperion+2,000 IT MW

First phase modeled by 2030; initial operation expected from 2028 without a quantified initial MW milestone.

² Schedule basis · 19 October 2026. Each year carries forward the latest eligible cumulative milestone for each project. No capacity is interpolated. The 2026 addition runs from the snapshot to year end; later additions are year over year. A flat 2031 means no additional dated milestone is recorded for that year.

Quantified AI portions, including modeled forecasts. Eagle Mountain includes a 133 MW two-building portion; further expansion is unquantified. Rosemount’s 178 MW is assumed available by end 2027, with low timing confidence. Hyperion’s full 5 GW uses a provisional 2032 date. Sarpy and Jamnagar are excluded below.

Project-level year-end capacity · IT MW

Project	2026	2027	2028	2029	2030	2031	2032
Aiken	69	142	142	142	142	142	142
Beaver Dam	0	163	163	163	163	163	163
Cheyenne	152	207	207	207	207	207	207
Eagle Mountain	133	133	133	133	133	133	133
El Paso	0	0	0	0	0	0	0
Gallatin	87	87	87	87	87	87	87
Huntsville	146	146	146	146	146	146	146
Hyperion	0	0	0	0	2,000	2,000	5,000
Jeffersonville	178	178	178	178	178	178	178
Kuna	152	152	152	152	152	152	152
Lebanon	0	0	741	741	741	741	741
Los Lunas	87	87	87	87	87	87	87
Montgomery	—	358	358	358	358	358	358
Prometheus	785	854	854	854	854	854	854
Rosemount	—	178	178	178	178	178	178
Sturgeon County	0	0	0	1,000	1,000	1,000	1,000
Temple	152	152	152	152	152	152	152
Meta-QTS Hillsboro 2	180	180	180	180	180	180	180
Total dated IT MW	2,121	3,017	3,758	4,758	6,758	6,758	9,758

— Commissioning not confirmed for that year; excluded from the subtotal, not treated as zero. Later years carry forward the latest quantified milestone, excluding unquantified expansions.

Outside the dated IT total

Sarpy

80 IT MW modeled

Newest AI-building estimate; delivery remains unconfirmed. Legacy-campus operation does not verify this AI phase. Source

Reliance-Meta Jamnagar AI

168 MW announced

Delivery targeted within two years of June 2026. IT-power basis and a defensible conversion remain undisclosed. Source

03 / Project capital

Project capital allocation

Identified lifetime Meta responsibility. Allocations combine sourced plans and analyst models on their original dollar bases.³

Meta lifetime allocation / $146.25B

Sturgeon County$37.88B

Hyperion$28.40B

Montgomery$13.56B

Lebanon$10.00B

Cheyenne$7.80B

Rosemount$6.74B

Jeffersonville$6.70B

Other allocated projects$35.17B

Allocation coverage

15With amounts5Without amounts

Lifetime responsibility does not establish annual cash outlays. Project-level payment schedules are needed to reconcile annual CapEx.

Hyperion’s $28.4B Meta share includes a $5.4B modeled JV share and a $23B analyst residual.

³ Missing allocation amounts remain unknown. Fifteen allocated records sit within twenty tracked relationships; these are not necessarily twenty separately owned physical campuses.

Sources and notes

01 / Meta / Q2 2026 results

Q2 CapEx of $31.08B and full-year company guidance of $130–145B, including finance-lease principal. View source

02 / Meta / Q1 2026 results

Q1 CapEx of $19.84B on the matching accounting basis. View source

03 / Meta / Full-year 2025 results

2025 annual CapEx of $72.22B. The historical series includes 2024 $39.23B and 2023 $28.10B on the same company CapEx basis. View source

04 / Meta / Full-year 2024 results

Earlier annual company CapEx observations and their comparative disclosures. View source

05 / AI Buildout Tracker / Project research

Capacity schedules were reviewed on October 19, 2026 for the same twenty project relationships. Capital allocations retain their October 17 snapshot. Annual capacity totals and the full project schedule table appear in the compute-capacity section. View source

06 / Epoch AI / Eagle Mountain AI portion

133 IT MW for two AI buildings, externally modeled; May 2 satellite observation supports assessed operation. Further campus expansion is unquantified and excluded. Adapted from Epoch AI under CC BY 4.0. View source

07 / Rosemount / Revised timing assumption

September 8 reporting places opening in late 2026 or early 2027. We assume the full original two-hall Epoch model (178 IT MW) is available by end 2027. Low timing confidence; not a company deadline or confirmed commissioning. Capacity model: https://epoch.ai/data/ai-data-centers/directory/meta-rosemount . View source

08 / Epoch AI / Sarpy AI-building estimate

80 IT MW modeled for the newest AI building. Its August operating date follows a forecast from May imagery; no subsequent commissioning confirmation was found. Excluded from dated totals, retained as unresolved delivery. View source

09 / Reliance / Meta Jamnagar initial phase

168 MW announced for delivery within two years of June 2026. The primary disclosure does not define IT versus facility power. No site-specific conversion is established; excluded from IT totals. Wider Reliance campus and renewable generation are separate. View source

Company CapEx, project capital responsibility and capacity estimates cover different scopes. Lifetime allocations cannot be subtracted from annual spending to establish unallocated cash. Capital snapshot: October 17, 2026. Capacity schedules reviewed October 19, 2026.

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