Emirati billionaire Hussain Sajwani pledged a $20 billion investment in the thriving US data centre industry. He made this announcement alongside US President-elect Donald Trump at Trump’s Palm Beach residence in Florida.
Driven by voters’ economic concerns, Trump has intensified efforts to boost investments in domestic industries and proposed steeper tariffs on Chinese goods to limit China’s access to essential chips for advanced data centres.
“We’re planning to invest $20 billion and even more if the market provides the opportunity,” stated Sajwani, the chairman of Dubai developer DAMAC, during a visit to Trump’s Mar-a-Lago home. DAMAC operates the Middle East’s only Trump-branded golf course in Dubai, which launched in 2017, and Sajwani rang in the New Year with Trump in Florida.
Today marks a significant milestone as we announce a $20 billion investment in the United States, reinforcing our commitment to driving global growth and strengthening international partnerships. It was an honor to announce and collaborate with President-elect @realDonaldTrump… pic.twitter.com/tUg5avQLUk
— Hussain Sajwani (@HussainSajwani) January 7, 2025At a news conference, Trump said Sajwani committed to the investment because he felt inspired by the recent election. He wouldn’t have done it without the election.” The president-elect also emphasized his plan to attract $1 billion or more investments by streamlining the environmental regulatory review process.
Trump often announces plans promising economic expansion, although not all materialize as planned. For example, early in his first term, he touted a $10 billion Foxconn investment in a Wisconsin factory, which was largely abandoned despite initial promises of thousands of jobs.
Hussain Sajwani announces a $20 billion investment in the United States alongside President Trump: "For the last four years, we've been waiting for this moment." pic.twitter.com/uZuL9alCht
— Breaking911 (@Breaking911) January 7, 2025Recently, Trump and Masayoshi Son, CEO of SoftBank Group, declared a $100 billion investment in the US over four years, focusing on AI.
The launch of OpenAI’s ChatGPT in late 2022 spurred a surge in generative AI technology investments and the expensive infrastructure needed to support it, such as power generation and transmission. Last week, Microsoft announced it would invest approximately $80 billion this fiscal year to enhance its AI capabilities.
Read: Donald Trump’s Sentencing Proceeds as Judge Merchan Denies Delay Request
Under the Biden administration, restrictions on exporting coveted AI chips in advanced data centres to China have tightened. Trump has appointed staunch China critics to significant diplomatic and economic positions within his administration.
