Tech companies have been racing o to set up data centers essential for powering generative artificial intelligence applications such as OpenAI’s ChatGPT and Google Gemini, which require

President-elect Donald Trump on Tuesday announced a $20 billion investment in US-based data centers by Hussain Sajwani, the billionaire founder of DAMAC Properties and a close business associate of the Trump family.

Dubai property billionaire Hussain Sajwani — who this week stood alongside President-elect Donald Trump to pledge a $20 billion investment in US data centers — is likely to lean heavily on banks and other financial institutions for much of that investment.

Hussain Sajwani, a longtime Trump ally, announced a multibillion-dollar investment amid growing U.S. demand for AI and crypto infrastructure.

President-elect Donald Trump drew another expression of support on Tuesday, as a billionaire businessman from the United Arab Emirates, Hussain Sajwani, promised to spend at least $20 billion in the U.

Dubai developer DAMAC Properties will invest at least $20 billion "over a very short period of time" in the U.S., primarily in data centers in the middle of the country, President-elect Donald Trump announced Tuesday, as the company's billionaire founder and CEO, Hussain Sajwani, stood nearby.

President-elect Donald Trump is expected to announce a $20 billion investment into building data centers in the United States by the Emirati company led by a billionaire who is a close business partner of the Trump family.

The United Arab Emirates-based billionaire Hussain Sajwani will invest $20 billion toward building data centers in the U.S., President-elect Donald Trump announced Tuesday, disclosing a massive investment in a burgeoning American industry and deepening his yearslong ties with Sajwani.

MANTRA, a blockchain platform focused on real-world assets (RWAs), signed a deal with Dubai developer DAMAC Group to tokenise assets in the Middle East worth at least $1 billion, the two firms said.

Incoming U.S. President Donald Trump, discussed a slew of topics in an unbridled press conference on Tuesday, the first since his election

UAE conglomerate DAMAC Group, with investments in property development, hospitality, and data centres, has announced plans to tokenize $1 billion worth of its assets for financing purposes in early 2025.