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Bahrain-based GFH Financial Group has confirmed that its US investments currently exceed $200 million, which have been earmarked for the development of infrastructure of data centres and artificial intelligence (AI).
The figure doubles GFH’s US investments since its acquisition of a portfolio exceeding $100 million, based in Virginia, US in 2017.
The statement by Group CEO Hisham Alrayes on the sidelines of the World Economic Forum in Davos makes the group the latest in a growing list of GCC companies heavily investing in AI and data centres.
Earlier this month, Emirati billionaire and Damac Properties CEO Hussain Sajwani promised a $20 billion investment in the booming US data centre industry in the coming years, an announcement made alongside US President Donald Trump.
Last week, the New York-based private equity firm KKR and Dubai’s Gulf Data Hub also announced a $5 billion partnership to boost data centre infrastructure in the Gulf.
(Writing by Bindu Rai, editing by Daniel Luiz)
