Key facts
- UAE billionaire Hussain Sajwani is investing $66 billion in data centers.
- The investment aims to capitalize on the AI boom and meet soaring demand for computing power.
- DAMAC Digital plans to build 6,000 megawatts of data center capacity across 13 countries.
- The company aims to become the world's largest data center provider.
- Hyperscalers, major players in cloud and AI services, have signed up as clients.
UAE billionaire Hussain Sajwani, chairman of DAMAC Properties, is making a significant push into the data center industry, aiming to become a global leader by investing approximately $66 billion.
Sajwani, who has close ties to Donald Trump and a net worth of $15.3 billion according to Forbes, sees immense potential in data centers driven by the burgeoning demand for computing power fueled by artificial intelligence. His vision was solidified during the COVID-19 pandemic, observing the growth of online communication and e-commerce, and further accelerated by the AI frenzy following OpenAI's ChatGPT launch.
DAMAC Digital, Sajwani's data center arm launched in 2021, has already established operations in Thailand and Saudi Arabia. The company plans to develop sites across 13 countries in North America, Europe, Asia, and the Middle East, targeting a total capacity of 6,000 megawatts. Eight data centers are expected to be operational by the end of the year, with expansion plans including Malaysia, Indonesia, the Philippines, Turkey, Greece, Spain, Italy, Finland, Sweden, and the UAE.
Despite recent drone attacks in the Middle East impacting data centers, Sajwani remains undeterred, stating that the UAE's resilience and the government's defense efforts have proven the region's stability. Five major "hyperscalers," which include industry giants like Amazon, Microsoft, and Google, have already signed up as clients for DAMAC's facilities.
Sajwani expressed confidence in the market, dismissing concerns about an AI bubble or oversupply, and anticipates massive demand in the coming years. His ambition is to surpass Equinix, the current largest data center provider with over 280 sites, to become the top player globally.