Emirati Billionaire Commits $20 Billion to U.S. Data Center Expansion

Emirati billionaire Hussain Sajwani, in collaboration with U.S. President-elect Donald Trump, announced a $20 billion investment in the U.S. data center industry. This investment aims to bolster domestic industries and curb China's access to advanced data center technology, amidst rising AI infrastructure demands.

In a significant economic announcement, Emirati billionaire Hussain Sajwani pledged a massive $20 billion investment in the rapidly growing U.S. data center industry. This announcement was made alongside U.S. President-elect Donald Trump at his residence in Palm Beach, Florida.

The investment aligns with Trump's agenda to strengthen domestic industries in response to economic concerns expressed by voters in the recent election. Part of the strategy includes proposed higher tariffs on Chinese goods to limit China's access to crucial technology for advanced data centers.

This development comes amidst increasing focus on AI, as highlighted by SoftBank and Microsoft's substantial investments in AI infrastructure. The tightening of AI chip export restrictions to China under the Biden administration adds further context to this economic strategy.

(With inputs from agencies.)