PALM BEACH, Fla. (Diya TV) — Emirati billionaire Hussain Sajwani, chairman of DAMAC Properties, joined President-elect Donald Trump on Tuesday to announce a $20 billion investment to build data centers across the United States.
Sajwani and Trump disclosed the ambitious plan at a news conference held at Trump’s Mar-a-Lago home in Palm Beach, Florida. The move is meant to boost the country’s data infrastructure to meet rising demands for applications in artificial intelligence.
“This moment has been four years in the making,” said Sajwani. The investor was lauded by Trump as “one of the most respected business leaders in the Middle East, indeed the world.
The announcement comes as major tech companies are racing to increase their data center capacities to power the likes of generative AI technologies such as OpenAI’s ChatGPT and Google Gemini, which require extensive computing resources.
Recently, Microsoft announced its plan to spend $80 billion in the fiscal year to strengthen its AI infrastructure. It reflects how there is more attention towards AI capabilities around the globe. As McKinsey stated, spending on mechanical and electrical systems for data centers is likely to be over $250 billion by 2030.
This investment falls into a broader agenda of the United States in being a world leader in AI development. Analysts say the deal between Sajwani and Trump may be an opportunity to generate many jobs in the data center sector.
Sajwani and Trump did not reveal specific locations for the data centers, but there are promises of more announcements later this year.
