Hussain Sajwani invests $66 billion to build AI data centers
Business
Hussain Sajwani, DAMAC Properties chairman and second-richest Arab, is investing $66 billion to build massive data centers to capitalize on the AI boom.
He kicked off DAMAC Digital in 2021 after seeing how the pandemic made video calls explode and growing e-commerce, aiming for 6,000 megawatts of capacity across 13 countries.
DAMAC Digital seeks to surpass Equinix
DAMAC Digital has completed sites in Saudi Arabia and Thailand, with eight in total expected to be operational by year-end.
Sajwani wants this project to outgrow even his real estate empire, and maybe even surpass industry giant Equinix.
"We want to be bigger than them. We want to be the top in the world," he said, confident that AI demand isn't slowing down anytime soon.