Just in: Donald Trump, DAMAC Properties announce $20 billion funding for data centres

US President-elect Donald Trump is addressing his second press conference in Mar-a-Lago Club in Florida since his election triumph last year. He just announced that the UAE’s DAMAC Properties is going to invest at least $20 billion in the US for data centers.

The funding from the Emirati company led by billionaire Hussain Sajwani, a close partner of the Trump family, is intended to highlight the politician’s personal ability to attract fresh investments for big projects in the country.

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The Emirati billionaire also briefly joined the press conference on Tuesday after Trump. His promised funding feeds into an existing boom for constructing data centers used for artificial intelligence and cryptocurrency, and in other elements of the digital economy.

DAMAC Properties has been a key Trump partner. Since Trump’s re-election, Hussain Sajwani has been seen at Trump’s Mar-a-Lago Club in Florida. He recently posted a picture standing alongside the President-elect and Tesla CEO Elon Musk at a NYE celebration.