Search
DAMAC founder Hussain Sajwani expects his investments in companies such as Anthropic, OpenAI, and SpaceX to generate billions of dollars in returns. In 2024, DAMAC acquired Anthropic shares from the assets of the bankrupt crypto exchange FTX for $50 million, making it one of the largest buyers at the time. During the same period, the group also invested in xAI and France's Mistral as part of its foray into the AI sector. Anthropic is currently moving forward with its IPO, planning to list at a valuation of approximately $1 trillion, with the issue price to be determined next week. In addition, DAMAC announced in early 2025 that through its subsidiary EDGNEX it would invest $20 billion in building data centers in the United States, with the first phase planned for approximately 500 megawatts of capacity, and sites spanning Texas, Arizona, Ohio, and Illinois.
-
C114 Communication Network -
Communication Home
