FABOLOUS SPENDS $45,000 ON 120 BOTTLES OF MOET!

Rapper Fabolous got a record number of people wasted last weekend in Atlanta -- dropping $45,000 on 120 BOTTLES of champagne at a nightclub ... and it was all a favor for his good friend.

Sources tell TMZ, Fab bought the bottles of Rosé Moët as a present for his buddy -- who was celebrating his birthday at Club Compound in Atlanta last Saturday.

The bottles were delivered in a golden bath-shaped litter by club personnel -- you know, that wheelless carriage thing royalty travels in ... usually carried on the shoulders of their half-naked royal subjects.

According to sources, Fab was hosting the event -- and decided to show everyone in the club a good time by comping the endless flow of booze.

He be killin' em.

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