Emirati billionaire Hussain Sajwani has unveiled plans to invest $20 billion in the burgeoning U.S. data center sector. The announcement was made during a joint statement with U.S. President-elect Donald Trump at the Mar-a-Lago estate in Palm Beach, Florida.

The announcement complements Trump’s campaign to bolster the U.S. economy through domestic industrial investment. It also aligns with his focus on countering China’s technological dominance, including measures such as higher tariffs on Chinese imports and restrictions on Beijing’s access to advanced semiconductor technology critical for data centers.

The announcement highlights Sajwani’s strong belief in the U.S. as a key hub for technological growth and innovation. DAMAC already has ties with Trump, including ownership of the Middle East’s only Trump-branded golf course in Dubai, which opened in 2017. Sajwani also rang in the New Year alongside Trump in Florida.

This latest pledge comes amid a global surge in investment in generative AI and the infrastructure required to support it. OpenAI’s release of ChatGPT in late 2022 sparked a competitive drive among tech companies to expand their AI capabilities, driving significant investment in the energy-intensive data centers that power these advancements. Microsoft, for instance, recently announced plans to invest $80 billion this fiscal year to scale up its AI capacity.

Restrictions on the export of highly sought-after AI chips, critical for advanced data centers, to China, have tightened under the Biden administration. Additionally, Trump has nominated hard-liners in China to key diplomatic and economic roles within his administration, signaling a tougher stance on China’s technological ambitions.