Oracle's lease commitments jump by almost 150% as company builds out to meet AI demand

On Wednesday, Oracle

told investors that it would ramp up capital expenditures in the current fiscal year to $50 billion from an earlier forecast of $35 billion because of new contracts from the likes of Meta

and Nvidia

That’s not the only way the software giant plans to supply robust computing power to meet soaring demand. It’s also ratcheting up leases.

As of Nov. 30, Oracle had $248 billion in lease commitments for data centers and cloud capacity commitments that will run for 15 to 19 years, the company disclosed in a quarterly filing on Thursday. That’s up 148% from the end of August.