CEO of DAMAC Properties Hussain Sajwani makes remarks next to US President-elect Donald Trump, at Mar-a-Lago in Palm Beach, Florida, US on Jan 7, 2025. PALM BEACH, Florida: Emirati billionaire Hussain Sajwani promised a US$20 billion investment in the booming US data centre industry in the coming years, he and US President-elect Donald Trump announced on Tuesday at Trump's home in Palm Beach, Florida.
Trump has an affinity for announcements promising economic growth, though such investments do not always pan out. Early in his first term, he announced a US$10 billion Foxconn investment in a Wisconsin factory that promised thousands of jobs but was mostly abandoned. Last month Trump and SoftBank Group CEO Masayoshi Son announced the Japanese tech investor would invest US$100 billion in the US over the next four years, focused around AI.The introduction of OpenAI's GenAI chatbot ChatGPT in late 2022 kicked off a wave of investment in generative AI technology and the pricey infrastructure required to support it, including power generation and transmission.
Restrictions on the export of coveted AI chips used in advanced data centres to China have tightened under the Biden administration, and Trump has nominated China hard-liners to key diplomatic and economic roles in his administration. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.