Who is DAMAC? The company investing $20B in Midwest, Sun Belt data centers
Nancy Prial, senior portfolio manager at Essex Investment, shares her thoughts on how the next Trump administration will affect markets and the future of AI on Claman Countdown.
On Tuesday, President-elect Trump announced that the United Arab Emirates-based company will invest $20 billion to build data centers in the Midwest and several San Antonio states.
Trump spoke to the press at his Mar-a-Lago resort in Florida, where he was joined by Hussain Sajwani, founder and chairman of DAMAK, an investment and property development firm in Dubai.
“I’m excited to announce today that DAMAC will be investing at least $20 billion in the U.S., and they could double or even more than double that amount,” Trump said.
The first phase of the project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said.
“We have been waiting for years to make our investment in the U.S. very large,” Sajwani said. give it.”
“Right now, we’re planning $20 billion worth of data centers that will serve artificial intelligence and cloud businesses for hyperscalers,” he added.
This is a developing story. Please check back for updates.
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