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

Investment firm of the United Arab Emirates promised 20 billion dollars build new artificial intelligence-focused data centers in a number of locations in the United States.

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

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