The investment comes amid a competitive push by major technology companies to establish data centers crucial for supporting generative artificial intelligence applications like OpenAI’s ChatGPT and Google Gemini, which demand significant computing power. Microsoft recently announced plans to spend approximately $80 billion this fiscal year to enhance its AI capabilities. McKinsey estimates that global spending on data center infrastructure could surpass $250 billion by 2030.
Key takeaways:
- Donald Trump announced a $20 billion investment to build data centers in the U.S.
- The investment is from Emirati billionaire Hussain Sajwani, chairman of DAMAC Properties.
- Big tech companies are rapidly setting up data centers to support AI applications like ChatGPT and Google Gemini.
- Global spending on data center mechanical and electrical systems is expected to exceed $250 billion by 2030, according to McKinsey.