Trump announces $20bn Emirati investment in US data centres

Trump says artificial intelligence is very big into data centers and that´s going to be very hot item in coming years

By AFP

January 08, 2025

President-elect Donald Trump listens as Hussain Sajwani, CEO of DAMAC Properties, speaks during a news conference at Mar-a-Lago, Tuesday, Jan. 7, 2024, in Palm Beach, Fla. — Reuters

PALM BEACH (United States): Donald Trump on Tuesday unveiled a $20 billion Emirati investment in US data centres, as he sought to boost his claims of attracting new economic support before he becomes president.

“The investment will support massive new data centers across the Midwest, the Sun Belt area, and also to keep America on the cutting edge of technology,” Trump told reporters at his Mar-a-Lago resort in Florida.

“Artificial intelligence is very big into the data centers, and that´s going to be a very hot item in the coming years.”

Trump said the arrangement was with DAMAC Properties, with which he has a longstanding business relationship, including a golf course in Dubai.

Hussain Sajwani, the chairman of DAMAC, has been a close partner to the Trump family, and stood by the president-elect after the attack on the Capitol in 2021, when other businesses turned away. The latest advancements in artificial intelligence have created a huge need for data centers, with big tech companies spending massively to build new infrastructure around the globe.