DUBAI, 12th November, 2026 (WAM) -- Hussain Sajwani, Founder and Chairman of DAMAC Group, said the group aims to increase the planned capacity of its global data-centre portfolio to 10GW by the end of 2027, compared with around 6GW currently planned, as it expands to meet accelerating global demand for artificial intelligence and cloud-computing infrastructure.
Speaking at Bloomberg Invest Dubai 2026, Sajwani said his investments in artificial intelligence and technology companies have generated substantial returns, noting that investments in OpenAI, SpaceX and Anthropic alone have produced gains running into billions of dollars.
He said his investment in Anthropic, made less than two years ago, had generated gains comparable to those accumulated over around three decades of his previous business activity, illustrating the pace of change and investment opportunities emerging across the technology sector.
Sajwani said DAMAC continues to implement an international expansion strategy through DAMAC Digital, with projects and sites across 14 countries in major markets in the United States, Europe and Asia.
He said the portfolio currently represents around 6,000MW of planned capacity, comprising approximately 1,000MW in the United States, 2,500MW in Europe and a further 2,500MW in Asia.
Expansion plans include Thailand, Malaysia, the Philippines, Finland, Spain, Greece, Italy, Türkiye and the United States, alongside opportunities being assessed in other international markets.
Sajwani said DAMAC plans to acquire additional land outside the United States over the next 12 to 18 months to develop new data centres.
He added that the group is in serious negotiations to acquire a large site in Australia and is also looking to expand in the United Kingdom.
Geographic expansion, he said, requires careful planning around infrastructure, logistics and access to power, with the group favouring measured expansion into new markets to ensure efficient execution and sustainable operations.
On the United States, Sajwani reaffirmed DAMAC's commitment to its previously announced US$20 billion data-centre investment programme.
He said around $9 billion of those commitments had already been invested and that work would continue in line with the availability of suitable land and power.
Sajwani said he expects the United States to remain the world's largest data-centre market because of the scale of demand, although constraints involving power, land and environmental requirements could encourage companies to increase investment in international markets.
He said the group is focusing on large data centres starting at around 100MW and relying primarily on liquid-cooling technologies designed to support AI chips and high-density computing.
According to Sajwani, data-centre development costs have risen by around 30 percent and could increase by a further 20 to 30 percent.
He noted that the United States and Europe are among the most expensive markets for development, while Asian markets offer comparative advantages in labour and equipment costs.
The industry's biggest challenge, he said, is not higher costs alone but also supply-chain disruption and recurring delays in obtaining equipment needed to complete projects.
Higher development costs can be managed through pricing models and contracts with major corporate customers, he added.
Sajwani stressed the need to develop practical solutions to the energy and water challenges associated with data centres rather than restricting their development.
Modern liquid-cooling technologies can improve water-use efficiency, while electricity-pricing mechanisms could allow data centres to bear higher costs while providing benefits to consumers, he said.
Sajwani described data centres as essential infrastructure for the development of artificial intelligence, warning that delays in building such facilities could affect economies' ability to keep pace with technological transformation and strengthen competitiveness.
On the outlook for AI, he said he does not consider the sector's current expansion merely an investment bubble, but rather a long-term technological transformation that will reshape work, production and everyday life.
Volatility in technology stocks, he said, forms part of normal market correction cycles.
He added that the scale of investment being made by global technology companies in infrastructure and computing demonstrates the significance of the transformation, despite challenges associated with project financing, power and equipment availability.
Sajwani expects AI-related revenues to continue growing as adoption broadens, while acknowledging that market valuations could undergo corrections in the coming years and that their timing and scale remain difficult to predict.
He said his technology investment portfolio includes Anthropic, OpenAI, xAI, Databricks, ByteDance, Together AI and Reflection AI, alongside other technology companies.
The portfolio also includes investments in around 100 funds in the United States, including venture-capital funds.
Sajwani said investing in start-ups requires building direct relationships with entrepreneurs and closely monitoring companies' development and performance rather than relying solely on expectations of future valuations.
Reviewing his experience in technology investment, Sajwani said he began his business career in 1980 and first invested in Silicon Valley in the late 1990s, suffering losses during the dot-com bubble before returning to technology investment around 12 years ago.
He said previous market volatility had not changed his view of technology as a major engine of economic growth, stressing the importance of diversification, risk management and identifying companies with strong business models and growth potential.
Sajwani also highlighted Nvidia's role in developing the global AI ecosystem, describing it as one of the world's most important companies today.
He said the company's leadership has played an important role not only in advancing graphics processing technology, but also in building partnerships, supporting start-ups and expanding AI applications.
Any significant change in Nvidia's leadership could affect the sector, he said, although it would not necessarily halt its development.
Sajwani called for accelerating AI development and investment while addressing operational and technical challenges during implementation rather than slowing innovation amid rapid global change.
He said future demand for AI services would create growing revenue opportunities, comparing their development with the transformation brought by mobile phones and digital devices, which have become integral to everyday life and business.
Sajwani stressed that continued investment in digital infrastructure, alongside improved energy and cooling solutions and more efficient supply chains, will be among the key factors supporting the growth of the AI sector in the coming years.