Essex Investment Senior Portfolio Manager Nancy Prial discusses how the incoming Trump administration will impact markets and the future of AI in “The Claman Countdown.”
President-elect Trump announced Tuesday that a United Arab Emirates-based company would invest $20 billion to build data centers in several Midwest and Sun Belt 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 DAMAC, a Dubai-based real estate investment and development company.
“I’m excited to announce today that DAMAC will invest at least $20 billion over a very short period of time in the United States, and they could double, or even a little more than double, that amount. good thing,” Trump said.
The first phase of the project will take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said.
“We have been waiting for years to increase our investments in the United States to very significant amounts,” Sajwani said. “For four years we have been waiting for this moment and we plan to invest $20 billion, and even more, if the market opportunity allows us.”
“Right now, we’re planning $20 billion worth of data centers for AI and cloud businesses for hyperscalers,” he added.
This is a developing story. Please check again for updates.
