12:06 PM EST, 01/07/2025 (MT Newswires) -- (Updates with states in the fourth paragraph.)

President-elect Donald Trump outlined a $20 billion foreign investment to build new data centers in the US, CNBC reported Tuesday.

DAMAC Properties founder Hussain Sajwani is pledging "at least" that amount, Trump said, according to CNBC. Emirati billionaire Sajwani is a Trump associate, according to the report.

"They may go double, or even somewhat more than double, that amount of money," Trump said at his Florida home Mar-a-Lago, according to CNBC.

The plan's "first phase" will be in Texas, Arizona, Oklahoma, Louisiana, Ohio, Illinois, Michigan and Indiana, Trump said, according to the report.

Trump's office and DAMAC didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)