Google and Meta signed the largest cloud agreement worth $10 billion

Meta Platforms has signed a six-year contract with Google Cloud worth over $10 billion. Under the agreement, Meta will use Google's servers, data storage systems, network infrastructure, and other cloud services.

The contract is Google's second major deal recently — the company previously signed a cloud agreement with OpenAI.

Meta stated that it will spend hundreds of billions of dollars in the coming years to build large-scale data centers for artificial intelligence. In July, it increased the lower bound of its annual capital expenditure forecast by $2 billion — to $66-72 billion.

Additionally, Meta is seeking partners to finance its infrastructure: in early August, the company announced plans to bring $2 billion worth of data center assets to market.

Against this backdrop, Alphabet's cloud division reported revenue growth in the second quarter of 2025 by nearly 32%, exceeding analysts' forecasts.

Source: reuters.com