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.

Now, Sajwani, who has had close ties with Trump and his family over the years, seemingly has plans to supercharge the firm’s U.S. investment. Sajwani, who is in his early 70s, was at Mar-a-Lago Club in Palm Beach when Trump made the announcement of Damac’s data centers bet.

Dubai developer DAMAC Properties will invest at least $20 billion "over a very short period of time" in the U.S., primarily in data centers in the middle of the country, President-elect Donald Trump announced Tuesday, as the company's billionaire founder and CEO, Hussain Sajwani, stood nearby.

Dubai's DAMAC Properties will invest at least $20 billion in U.S. data centers, President-elect Donald Trump announced Tuesday at Mar-a-Lago, alongside CEO Hussain Sajwani. The investment will focus on facilities across Texas,

President-elect Donald Trump announced a deal with Dubai developer DAMAC Properties for an investment of at least $20 billion in the U.S. CBS News' Aaron Navarro reports.

"We can use initially our own financial resources, but then [in the] second phase we can use [a] third party's money," Sajwani said of the planned investment.

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