Nancy Prial, senior portfolio manager at Essex Investment, offers her perspective on how the incoming Trump administration will impact markets and the future of artificial intelligence in “The Claman Countdown.”
President-elect Trump announced Tuesday that a company based in the United Arab Emirates will invest $20 billion to build data centers in several Midwestern and Sun Belt states.
Trump spoke to the press at his Mar-a-Lago resort in Florida, where he was joined by Hussain Sajwani, founder and chairman of DAMAC, a Dubai-based real estate investment and development company.
“I am pleased to announce today that DAMAC will invest at least $20 billion over a very short period of time in the United States, and it could be double that amount or even somewhat more than double that amount. This is a great thing,” Trump said.
Trump said that the first phase of the project will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana.
Sajwani said, “We have been waiting for years to increase our investments in the United States to very large amounts.” “For the past four years, we have been waiting for this moment, and plan to invest $20 billion, and even more, if the market opportunity allows us.”
“Right now, we are planning to build $20 billion worth of data centers that will meet the AI and cloud business needs of hyperscalers,” he added.
This is a developing story. Please check back for updates.
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