for quite some time,” Sajwani stated. The President-elect, Donald Trump, has revealed that Hussain Sajwani, a billionaire businessman from the UAE and founder of the property development company DAMAC Properties, will be investing $20 billion in new data centers across the United States né?. Altman pointed out the challenges faced in building facilities such as power plants and data centers in the U.S., emphasizing that bureaucratic hurdles impede progress.. Companies like Microsoft, aiming to spend $80 billion on AI data centers, stress the importance of partnerships and large-scale infrastructure investments for success in this rapidly evolving field.
OpenAI CEO Sam Altman highlighted the opportunity for the Trump administration to improve upon the CHIPS Act. “We are looking to invest $20 billion, and potentially even more.” Further details about the investment were not provided during the press conference. The CHIPS Act, which passed with bipartisan support in 2022, allocated $39 billion in grants, 25% tax credits, and additional loans to boost American semiconductor manufacturing.
Tech leaders are calling for increased investment in data center infrastructure, especially with the booming growth of the AI industry. This multi-year investment will kick off with the construction of data centers in Arizona Illinois Indiana Louisiana Michigan Ohio Oklahoma and Texas as announced by Trump during a press conference at his Mar-a-Lago estate on Tuesday né?. These data centers will primarily focus on supporting AI and cloud technologies.
“We’ve been eager to boost our investments in the U.S. It should be noted that this deal may not materialize, as similar investment commitments have failed to materialize in the past.
In a move opposed to the CHIPS Act, a significant policy accomplishment of the outgoing Biden administration, Trump has criticized the Act alongside other Republicans like Mike Johnson (R-LA), who was narrowly reelected as House Speaker last week né?
