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.

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 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.

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.

Dubai real estate developer Damac Properties will invest $20 billion in data centres across the United States, President-elect Donald Trump announced on Tuesday.

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.

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.

BigBear.ai (NASDAQ:BBAI) fell for the third consecutive day, but the losses accelerated as BBAI stock crumpled 16.2%. The stock is down almost 27% over those three days. It’s lost more than a third of its value since its all-time high achieved at the end of 2024.