U.S. President-elect Donald Trump announced that Emirati billionaire Hussain Sajwani, the chairman of DAMAC Properties, will spearhead a $20 billion investment initiative aimed at building data centers across the United States.

Trump introduced Sajwani as “one of the most respected business leaders in the Middle East, indeed the world,” highlighting his global influence and business acumen.

The trend of investing heavily in data center technology is poised to continue, with McKinsey forecasting global spending on the procurement and installation of mechanical and electrical systems for data centers to exceed $250 billion by 2030.