Meta Platforms is spending hundreds of millions of dollars annually on artificial intelligence models through Microsoft Azure, according to a Bloomberg report, expanding on an earlier ChainCatcher report about the spending. People familiar with the matter said Meta consumes trillions of tokens each week, mainly to support software development and benchmark its in-house models. The arrangement highlights the technology industry's continued dominance of AI demand and the sector's reliance on cross-company, or circular, AI transactions. Meta expects 2026 capital expenditures of $130 billion to $145 billion, largely for AI and data-center capacity, but continues to buy external models based on availability and cost. Microsoft's Azure Foundry marketplace had about 100,000 customers by July, although major spenders remain concentrated in technology, including OpenAI, ByteDance, Adobe, Perplexity and Sierra. OpenAI generated about 70% of Microsoft's overall AI revenue in its most recent fiscal year, while Azure revenue exceeded $100 billion in Microsoft's fiscal 2026. Meta is also developing an API service for multiple AI models that could compete with Foundry and reduce its dependence on external providers.