Dubai billionaire Sajwani: AI investments will bring billions of dollars in returns

TechFlow reported on Nov. 12, citing Bloomberg, that Hussain Sajwani, a Dubai billionaire and founder of real estate and data center group DAMAC, expects to earn billions of dollars in returns from investments in companies such as Anthropic, OpenAI and SpaceX.

DAMAC bought a stake in Anthropic as early as 2024 for $50 million, with the shares acquired from the assets of bankrupt crypto exchange FTX; DAMAC was one of the major buyers at the time. During the same period, the company also invested in Elon Musk's xAI and France's Mistral. Sajwani said at the time that these investments were one of the ways for the group to enter the AI space.

Anthropic is currently advancing its IPO and plans to go public at a valuation of about $1 trillion, with the offering price to be set next week. Beyond AI equity investments, DAMAC also announced in early 2025 that it would invest $20 billion through subsidiary EDGNEX to build data centers in the United States, with the first phase planned for about 500 megawatts of capacity and sites including Texas, Arizona, Ohio and Illinois.

Source: TechFlow