Thus, to withstand defendants’ standing challenge on a motion to dismiss, plaintiffs must allege facts that plausibly establish (i) that there is an “injury in fact — an invasion of a legally protected interest which is concrete and particularized and actual or imminent, not conjectural or hypothetical;” (ii) that the injury is “fairly trace[able] to the challenged action of the defendant;” and (iii) that it is “likely, as opposed to merely speculative, that the injury will be redressed by a favorable decision.” Id. at 560-61, 112 S.Ct. 2130. A court must, of course, “accept as true all material allegations of the complaint and construe the complaint in favor of the complaining party,” but a court should not “take account of allegations in the complaint labeled as fact but that constitute nothing more than ‘legal conclusions’ or ‘naked assertions.’” David, 704 F.3d at 333 (quoting Ashcroft v. Iqbal, 556 U.S. 662, 678, 129 S.Ct. 1937, 173 L.Ed.2d 868 (2009)). In short, a complaint alleges facts that plausibly establish standing only if the “well-pleaded allegations” allow for a “reasonable inference,” rather than a “sheer possibility,” that the plaintiff has satisfied each of the three elements of standing. Iqbal, 556 U.S. at 678-79, 129 S.Ct. 1937; David, 704 F.3d at 333.
In sum, the standing requirement — the “irreducible constitutional minimum” — applies here just the same as it applied in Clapper. Lujan, 504 U.S. at 560, 112 S.Ct. 2130. Moreover, the result in Clapper — that standing cannot be established on the basis of a “speculative chain of possibilities” — also applies here. 133 S.Ct. at 1150. Whether speculation is based on allegations in a complaint or facts in a record has no bearing on the outcome, as in neither context may standing be established on a “speculative chain of possibilities.” Id.
B.
Plaintiffs next argue that Clapper does not control this case because more is now known about Section 702 surveillance, including Upstream surveillance, than was known at the time of Clapper. Plaintiffs cite in their AC several publicly disclosed documents in support of the allegation that the NSA uses Upstream surveillance to intercept substantially all international text-based Internet communications, in- • eluding plaintiffs’ communications.14 Specifically, plaintiffs describe the technical features that enable the NSA to use Upstream surveillance to copy and review all or substantially all international text-based Internet communications, and the “strategic imperatives” that compel it to do so. Pis. Opp. Br. at 17. The AC alleges that:
(i) the Internet backbone funnels most communications entering or leaving the United States through 49 international chokepoints, AC ¶ 46;
(ii) the NSA has installed surveillance equipment at seven of those choke-points, and the NSA has a strong incentive to intercept communications at more chokepoints in order to obtain the com-’ munications it seeks, id. 65-66, 68;
(in) the installed surveillance equipment is capable of “examin[ing] the contents of all transmissions passing through,” id. ¶ 62 (quoting PCLOB Report, at 122);
(iv) in order to identify the targeted communications, the NSA must copy and review the contents of an enormous quantity of transiting communications, id. ¶¶ 50, 51, 62; and
(v) because the NSA cannot know in advance which Internet “packets”15 re
14
The AC cites, among other things, the PCLOB Report, the ODNI Report, the PRG Report, and [Redacted], 2011 WL 10945618 (FISA Ct. Oct. 3, 2011).
15
All Internet communications are broken into 'packets' — discrete chunks of informa*356tion' — that traverse a variety of physical circuits. AC ¶ 42. Once the packets that make up a particular communication reach their final destination, they are reassembled. Id.