President-elect Donald Trump has secured the UAE billionaire’s investment in constructing data centers across the United States.
On Tuesday, Trump held a press conference at his home in Palm Beach, Florida, to announce a $20 billion investment in nationwide data center development.
Trump identified the investor as Hussein Sajwani, CEO of DAMAC Properties, describing him as “one of the most respected business leaders in the Middle East, indeed the world.”
U.S. big tech companies have been competing to establish data centers essential for driving generative AI applications such as OpenAI’s ChatGPT and Google Gemini, which demand substantial computing power.
McKinsey projects that global expenditures on procuring and installing mechanical and electrical systems in data centers will exceed $250 billion by 2030.
Last week, Microsoft announced its plans to invest approximately $80 billion in the current fiscal year to boost its AI capacity.
Most Commented