A UAE company will invest $20 billion in data centers in the United States, as announced by US President Donald Trump on Tuesday.
The investment will enable the United States to stay up to date with the latest technology, according to the Republican magnate. He emphasized the significance of artificial intelligence (AI) in data centers and its future prominence.
Trump said that the deal will be completed with DAMAC Properties, a firm he has a long-standing business connection with, including owning a golf course in Dubai.
Hussain Sajwani, the DAMAC president, has been a loyal associate of the Trump family and stood by the billionaire following the tumultuous incident at the Capitol in 2021, a time when many other companies distanced themselves from the Republican.
Sajwani pledged investments of at least $20 billion, with the possibility of even more, according to Trump. The Republican is set to return to the White House on January 20.
The Trump International Golf Club in Dubai was constructed by the Emirates company and debuted in February 2017, following Trump’s victory in the 2016 elections.
Sajwani recently shared a photo featuring Trump and Elon Musk at the president-elect’s residence in Mar-a-Lago during year-end festivities.
SoftBank, a Japanese investment firm, pledged to invest 100 billion dollars in the United States within the next four years.
Trump’s initial election also saw significant investment declarations, with some of Trump’s commitments remaining unmet, as noted by The Washington Post.
The upcoming data centers will be constructed in eight states, such as Texas and Arizona.
The recent developments in AI technology have led to a significant need for additional data centers, prompting major tech companies to invest heavily in building new infrastructures on a global scale.
Google, Amazon, Microsoft, and other companies are investing large sums of money in this kind of infrastructure, which requires a significant amount of energy and hinders efforts to decrease greenhouse gas emissions.