Trump Announces $20B DAMAC Investment for Data Centers

President-elect Donald Trump has announced a significant $20 billion investment from Emirati billionaire Hussain Sajwani, chairman of DAMAC Properties, to build data centers across the United States. These centers will be located primarily in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan, and Indiana, aimed at supporting AI and cloud technologies. Trump emphasized the role of his election victory in securing this investment, pledging expedited regulatory processes for projects exceeding $1 billion. This move aligns with the growing demand for data centers driven by the AI boom, as major tech firms have been heavily investing in such infrastructure. While the promise of this investment is significant, it is worth noting past instances where similar pledges did not fully materialize. Trump's announcement follows a previous commitment from Japan's SoftBank to invest $100 billion in the U.S. over four years.