President-elect Donald Trump has announced that Hussain Sajwani, an Emirati billionaire businessman who founded the property development giant DAMAC Properties, will invest $20 billion in new data centers across the United States.

U.S. President-elect Donald Trump on Tuesday announced a $20 billion new investment to build data centers across the United States, a source familiar with the matter told Reuters.

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.

Over half of the investment is reserved for infrastructure. Microsoft President Brad Smith frames AI investment as key to economic growth.

U.S. President-elect Donald Trump was expected to announce on Tuesday a $20 billion new investment to build data centers across the United States, a source familiar with the matter told Reuters. The investor is Emirati billionaire Hussain Sajwani, chairman of DAMAC properties, according to the source.

Microsoft is one of the biggest spenders, followed closely by Google and AWS, Bloomberg Intelligence said. Its estimate of Microsoft’s capital spending on AI, at $62.4 billion for calendar 2025, is lower than Smith’s claim that the company will invest $80 billion in the fiscal year to June 30, 2025.

President-elect Trump held a press conference at Mar-a-Lago on Tuesday, one day after Vice President Kamala Harris certified his election victory.