President-elect Donald Trump has announced that Hussain Sajwani, an Emirati billionaire businessman who founded the property development giant DAMAC Properties, will invest $20 billion in new data centers across the United States.

President-elect Donald Trump announced a $20 billion investment from Hussain Sajwani, the chairman of an Emirati property company that developed a golf course managed by the Trump Organization. CNBC first reported that Sajwani was expected to invest $20 billion to build data centers in the U.

Over half of the investment is reserved for infrastructure. Microsoft President Brad Smith frames AI investment as key to economic growth.

The planned spending represents a 44% increase from last year, and more than half of it is expected to come in the U.S.

President-elect Trump said Tuesday that billionaire Hussain Sajwani, chairman of Dubai-based developer Damac Properties, is investing at least $20 billion in the U.S. to support new data centers. Why it matters: Sajwani's investment comes as Big Tech's data center spending explodes.

While Microsoft is thinking on a global scale, the company's Vice Chair and President said more than half of this total investment will be in the US

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 partne

U.S. President-elect Donald Trump on Tuesday announced a $20 billion new investment to build data centers across the United States. At a news conference at his home in Palm Beach, Florida, Trump said the investor is Emirati billionaire Hussain Sajwani,

President-elect Donald Trump announced a $20 billion investment in US data centers by Emirati billionaire Hussain Sajwani’s DAMAC Properties. The move highlights Trump’s efforts to attract international investments,