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Billion-Dollar AI Gains Fuel DAMAC's Global Data Center Expansion
14 Nov
Summary
- Hussain Sajwani's AI investments generated billions in profits.
- DAMAC Group aims to reach 10GW of data center capacity by 2027.
- Nvidia is crucial for AI ecosystem development, says Sajwani.
Hussain Sajwani, Founder and Chairman of DAMAC Group, reported that his personal investments in leading artificial intelligence companies have yielded billions of dollars. Investments in OpenAI, SpaceX, and Anthropic alone have generated significant profits, with the Anthropic investment producing returns comparable to three decades of prior business activity.
Sajwani highlighted Nvidia's critical role in the global AI ecosystem, praising its leadership in technology advancement and partnership building. His investment portfolio extends to approximately 100 US-based funds, reinforcing his long-term belief in the technology sector's potential despite market fluctuations.
In parallel, DAMAC Group, through DAMAC Digital, is expanding its global data center portfolio. The company plans to increase its capacity to 10GW by the end of 2027, up from the current plan of 6GW. This expansion spans 14 countries across the US, Europe, and Asia.
DAMAC is pursuing new data center acquisitions in the next 12 to 18 months, with serious negotiations underway in Australia and expansion eyed in the UK. The group reaffirms its commitment to a $20 billion US data center investment program, having already invested approximately $9 billion.
The rising demand for AI is driving infrastructure investment, with DAMAC focusing on large-scale data centers utilizing liquid-cooling technologies. Despite a 30 percent increase in development costs and supply chain challenges, Sajwani views AI as a transformative long-term shift, not a bubble.
