US President-elect Donald Trump announced an investment worth $20 billion to build data centers in the United States, and in a press conference in Palm Beach, Florida, Trump stated that this investment comes from the Emirati company Damac Properties.
The importance of investment
This initiative – according to the Associated Press – is part of Trump’s strategy to strengthen the American economy by attracting large international investments.
Trump stated during a press conference that DAMAC was inspired to commit to the results of the US elections, saying, “This commitment would not have happened without the elections.”
This investment reflects the current boom in the establishment of data centers, which play a pivotal role in developing artificial intelligence and expanding the scope of digital currencies.
This commitment is expected to represent only about 2% of the total trillion-dollar investments expected in the US data center sector over the next five years, according to Blackstone estimates.
Trump and Damac
Damac has a long-term relationship with Trump, as the company previously cooperated in developing the international golf course bearing the Trump name in Dubai.
In addition, Damac paid millions of dollars in licensing fees to the Trump Organization to name its projects.
Although Damac announced plans to build new data centers in the United States, there remain challenges related to competition and expanding the scope of operations, and a question arises about the relationship between foreign investments and the Trump administration, as these relationships could raise controversy over conflicts of interest, according to the Associated Press.
