Hussain Sajwani, chairman of Dubai-based developer DAMAC Properties, has pledged to invest at least $20 billion to build data centers across the United States. The announcement came during a press conference held by President-elect Donald Trump at his Mar-a-Lago residence.
A Massive Boost to Data Infrastructure
The investment aims to support the rapid growth of data centers, a critical backbone for advancements in artificial intelligence (AI) and cloud computing. Major tech companies such as Microsoft, Meta, Alphabet, and Amazon collectively spent over $200 billion last year on capital expenditures, much of it focused on fueling the AI boom through new data center infrastructure. This new commitment from DAMAC aligns with the rising demand for state-of-the-art facilities to meet these technological needs.
Project Scope and Timeline
The first phase of the project will involve establishing data centers in several states, including Texas, Ohio, Illinois, Michigan, Indiana, Arizona, Oklahoma, and Louisiana. While specific locations have not been disclosed, the plan is expected to roll out over a short time frame. These facilities will bolster AI capabilities and cloud services, supporting innovation and job creation in these regions.
Statements from Key Figures
President-elect Trump praised Sajwani’s commitment, describing it as a testament to America’s potential as a global leader in technology. “It’s an honor to have such a great investor investing in our country. This will not only support massive new data centers but also keep America on the cutting edge of AI and technology,” Trump stated.
Sajwani, in turn, expressed optimism about the U.S. market under the incoming administration, suggesting that the political climate encouraged his decision. “We’ve been waiting for this moment, and we’re planning to invest $20 billion and more if the market allows us,” he said.
DAMAC’s Expanding Footprint in Technology
DAMAC Properties, known globally for its real estate developments, has diversified into the technology sector through its Edgnex business, which focuses on data center development. The company has undertaken significant projects worldwide, including ventures in Thailand and the Middle East.
This investment represents one of the latest examples of foreign entities recognizing the potential of the U.S. tech landscape. As global competition in AI and cloud services intensifies, such projects could play a pivotal role in shaping the future of technology and innovation.
