Emirati billionaire Hussain Sajwani has committed to investing $20 billion in the growing US data center sector, a move he and US President-elect Donald Trump revealed on Tuesday at Trump’s residence in Palm Beach, Florida.
As Trump’s victory was heavily influenced by economic issues, he has focused on promoting domestic industry growth and suggested raising tariffs on Chinese products, aiming to limit China’s access to essential technology for advanced data centers.
“We plan to invest $20 billion, and possibly more, depending on market opportunities,” Sajwani, who is also the chairman of DAMAC, a Dubai-based developer, said during the announcement at Trumpโs Mar-a-Lago estate.
DAMAC, which owns the regionโs only Trump-branded golf course in Dubai, celebrated the New Year with Trump. While Trump has made similar investment announcements in the past, such as a $10 billion Foxconn investment in a Wisconsin factory that ultimately didn’t materialize as expected, the new data center initiative stands as a significant financial commitment.
