President-elect Donald Trump announced an investment of at least $20 billion from Hussain Sajwani, the head of Damac Group, to build new data centers in the US.

President-elect Trump said Tuesday that billionaire Hussain Sajwani, chairman of Dubai-based developer Damac Properties, is investing at least $20 billion in the U.S. to support new data centers. Why it matters: Sajwani's investment comes as Big Tech's data center spending explodes.

“The investment will support massive new data centers across the Midwest, the Sun Belt area, and also to keep America on the cutting edge of technology and artificial intelligence,” Trump said at a press conference at his Mar-a-Lago resort in Florida on Tuesday.

Donald Trump delivers remarks on Tuesday at Mar-a-Lago in what is his second news conference since becoming president-elect.

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.

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 announced a $20 billion investment in US data centers by Emirati billionaire Hussain Sajwani’s DAMAC Properties. The move highlights Trump’s efforts to attract international investments,