Emirati Billionaire Hussain Sajwani Commits $20 Billion to US Data Centers, Trump Announces
Emirati billionaire Hussain Sajwani has pledged a $20 billion investment in the US data center industry in the coming years, as announced on Tuesday alongside US President-elect Donald Trump at Trump’s Palm Beach residence.
Driven largely by economic concerns among voters, Trump’s election victory has prompted a focus on boosting domestic investments, including proposing higher tariffs on Chinese goods to limit China’s access to crucial chips for advanced data centers.
“We plan to invest $20 billion, and potentially more if the market presents the right opportunities,” said Sajwani, chairman of Dubai-based DAMAC, at Mar-a-Lago.
DAMAC owns the Middle East’s sole Trump-branded golf course in Dubai, which opened in 2017, and Sajwani rang in the New Year with Trump in Florida.
At a news conference, Trump expressed his belief that Sajwani’s decision was influenced by the election outcome, saying, “He was very inspired by the election and wouldn’t have done this without it.” The president-elect emphasized his goal to secure investments exceeding $1 billion by expediting the environmental regulatory review process.
Trump has made a history of announcing economic growth initiatives, though some, like the $10 billion Foxconn investment in Wisconsin, did not materialize as promised.
In addition, last month Trump and SoftBank Group CEO Masayoshi Son revealed plans for a $100 billion investment in the US over the next four years, focusing on AI.
The launch of OpenAI’s ChatGPT in late 2022 spurred a surge of investments in generative AI and the infrastructure required to support it, including power generation. Microsoft recently announced an $80 billion investment in AI this fiscal year.
The Biden administration has tightened restrictions on AI chip exports to China, and Trump has appointed China hawks to key diplomatic and economic positions in his administration.
