Trump announces historic $20 billion foreign investment in tech infrastructure

President-elect Donald Trump on Tuesday announced $20 billion in foreign investment to build new data centers across the United States.

Emirati billionaire Hussein Sajwani, a close aide to Trump and founder of real estate developer Damac Properties, has pledged to donate “at least” that amount, the president-elect said at his Mar-a-Lago, Florida, home.

Trump said of Sajwani’s company, “They may go double, or even somewhat more than double, that amount of money.”

Trump said the “first phase” of the plan would take place in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana.

Sajwani said the Republican election prompted him to decide to invest.

“It’s been amazing news for me and my family when [Trump] was elected in November. We’ve been waiting four years to increase our investment in [the] U.S. to very large amounts of money,” the Dubai developer said in a short speech at Mar-a-Lago.

Sajwani’s pledge is the latest example of foreign corporate leaders promising to spend heavily in the United States in the wake of Trump’s election victory over Democratic Vice President Kamala Harris.

In December, SoftBank CEO Masayoshi Son announced plans to invest $100 billion in the United States and create 100,000 jobs during Trump’s four-year term.

Trump, who takes office in January, On the 20th, the government announced that it aims to attract more foreign companies to do business in the United States by offering preferential treatment, such as expedited approval, to companies investing more than $1 billion.