UAE company to invest $20B in U.S. AI data centers

A United Arab Emirates investment firm has pledged $20 billion to build new data centers targeting AI across a number of locations across the United States.

Billionaire Hussain Sajwani, CEO and founder of the property development company DAMAC Properties in Dubai, made the announcement at president-elect Donald Trump’s Florida home, Mar-a-Lago. Sajwani is a close friend of Trump, according to news reports.

Trump said the first phase of the planned investment will take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana. And that’s just for starters. “They may go double, or even somewhat more than double, that amount of money,” Trump said of the deal.