Brazil is rapidly emerging as a key hub for data centers, with billions of dollars in investments expected in the coming years. The surge is largely attributed to the exponential rise of artificial intelligence and growth constraints in larger markets in the U.

President-election Donald Trump said billionaire DAMAC Properties’ Hussain Sajwani was “inspired” to make the investment by the results of the U.S. presidential election. The first phase of the project will take place in Texas,

The planned spending represents a 44% increase from last year, and more than half of it is expected to come in the U.S.

Trump said the investor is Emirati billionaire Hussain Sajwani, chairman of DAMAC properties. U.S. President-elect Donald Trump on Tuesday announced a $20 billion new investment to build data centers across the United States.

The rise of AI and cryptocurrency have revved up demand for data centers. Texas stands to be a hub for such facilities.

President-elect Donald Trump announced an investment of at least $20 billion from Hussain Sajwani, the head of Damac Group, to build new data centers in the US. Sajwani said he's been waiting four years to make this type of investment.