[Hussein Salvani: AI Investments to Yield Billions in Returns] Dubai billionaire and DAMAC founder Hussein Salvani stated that he expects billions of dollars in returns from investments in companies such as Anthropic, OpenAI, and SpaceX. DAMAC acquired a stake in Anthropic in 2024 for $50 million from the assets of the bankrupt FTX, and also invested in xAI and Mistral during the same period. Anthropic is currently pursuing an IPO, planning to list at a valuation of approximately $1 trillion, and will determine its offering price next week. In addition to AI equity investments, DAMAC announced in early 2025 that it will invest $20 billion in the US through its subsidiary EDGNEX to build data centers, with an initial capacity of approximately 500 megawatts, located in Texas, Arizona, Ohio, and Illinois. (Source: Bloomberg)