A United Arab Emirates investment firm has pledged $20 billion to build new data centers targeting AI across a number of locations across the United States.

President-elect Donald Trump on Tuesday announced that a company from the UAE will invest $20 billion to build data centers in the U.S., primarily in the Midwest and Sun Belt.

UAE property firm Damac is to invest billions of dollars into developing data centers in the US. Speaking from his Mar-a-Lago resort in Palm Beach, Florida, President-elect Donald Trump announced the company would be investing “at least $20 billion over a very short period of time” into data centers.

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The United Arab Emirates-based billionaire Hussain Sajwani will invest $20 billion toward building data centers in the U.S., President-elect Donald Trump announced Tuesday, disclosing a massive investment in a burgeoning American industry and deepening his yearslong ties with Sajwani.

P resident-elect Donald Trump announced that Dubai-based real estate firm Damac plans to invest $20 billion into building data centers in the US. The announcement was made at Trum

DAMAC's Hussain Sajwani, who recently joined Donald Trump at a press conference to announce a new US data center project, says that funding for the deal is still in the works. Nevertheless, he expects to expand his $20 billion investment over time as his focus turns from Europe and Asia-based projects to the US.