Trump announces $20 billion foreign investment in data centers

• Microsoft, Meta, Alphabet and Amazon alone spent more than $200 billion last year in capital expenditures to fuel the AI boom, including the data centers to power the technology.

Driving the news: The investment will support data centers in the Midwest and Sun Belt, Trump said during a Tuesday press conference at his Mar-a-Lago residence.

• He said the first phase of the project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana.
• "It's an honor to have such a great investor investing our country, the investment will support massive new data centers ... and also to keep America on the cutting edge of technology and artificial intelligence," Trump said.

What he's saying: Sajwani called Trump's election "amazing news."

• "For the last four years, we've been waiting for this moment and we're planning to invest $20 billion and even more than that, if the opportunity in the market allow[s] us," he said.

Between the lines: Sajwani's DAMAC Properties is a global developer of homes, apartments and hotels.

• It branched out into data centers in recent years via its Edgnex business.
• Edgnex has billions of dollars' worth of data center projects in progress worldwide, including reported recent deals in Thailand and Middle Eastern markets.

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