Dubai Billionaire Sajwani: AI Investment Will Bring Billions of Dollars in Returns

TechFlow: On November 12, Bloomberg reported that Hussain Sajwani, a Dubai billionaire and founder of real estate and data center group DAMAC, said he expects to gain billions of dollars in returns from investments in companies such as Anthropic, OpenAI, and SpaceX.

As early as 2024, DAMAC purchased shares in Anthropic for $50 million, acquired from the assets of the bankrupt cryptocurrency exchange FTX, when it was one of the main buyers; simultaneously, the company also invested in Elon Musk’s xAI and France’s Mistral. At the time, Sajwani noted that these investments were one of the group’s strategies to enter the AI sector.

Anthropic is currently advancing its IPO, planning to go public with an approximate valuation of $1 trillion, and will finalize the offering price next week. In addition to equity investments in AI, DAMAC announced in early 2025 that it would invest $20 billion in the United States through its subsidiary EDGNEX to build data centers, with an initial planned capacity of approximately 500 megawatts across locations including Texas, Arizona, Ohio, and Illinois.