Emirati billionaire Hussain Sajwani announced a $20 billion investment in the U.S. data center industry during a joint appearance with U.S. President-elect Donald Trump on Tuesday at Trump’s Mar-a-Lago home in Palm Beach, Florida.
Sajwani, chairman of Dubai-based developer DAMAC Properties, highlighted the opportunities in the growing sector. “We’re planning to invest $20 billion and even more than that, if the opportunity in the market allows us,” he said.
The investment underscores the increasing interest in the infrastructure powering generative AI technologies, which have surged in demand since the launch of OpenAI’s ChatGPT in late 2022.
The announcement aligns with Trump’s pledge to boost domestic industries and restrict China’s access to critical technologies. The President-elect has proposed higher tariffs on Chinese goods and nominated China hard-liners to key positions in his administration.
Trump’s economic agenda includes fostering investments to counteract reliance on foreign supply chains and enhance the U.S.’s technological edge.
DAMAC Properties owns the Trump-branded golf course in Dubai, which opened in 2017, and Sajwani has maintained a close relationship with the former President. The two celebrated New Year’s together in Florida, emphasizing their strong business ties.
Trump, known for favoring high-profile economic announcements, added Sajwani’s pledge to a growing list of investment commitments made under his influence. However, some previous announcements, such as the $10 billion Foxconn factory project in Wisconsin, fell short of expectations.
Last month, Trump and SoftBank CEO Masayoshi Son revealed plans for a $100 billion U.S. investment focused on artificial intelligence. Microsoft has also joined the race, announcing last week that it will spend $80 billion this fiscal year to expand its AI capabilities.
The U.S. government’s tightening restrictions on the export of AI chips to China have further intensified focus on domestic technology growth. This policy shift aims to limit China’s development of advanced data centers and AI infrastructure, a priority under both the Biden administration and Trump’s incoming team.
