President-elect Trump spoke to the nation for the first time since his November election win was certified.
At a press conference from his Mar-a-Lago home, Trump announced a massive $20 billion investment in new data centers. This came just a day after Congress and Vice President Kamala Harris certified his electoral college victory.
The investment, according to Trump, will happen "over a short period of time" and come from DAMAC Properties. He and Hussain Sajwani, the company's owner, outlined plans to focus on states like Texas, Arizona, and Ohio, among others.
Sajwani explained that the funds would support AI and cloud technology development. Trump emphasized this as a key part of his administration's economic vision.
Trump also promised faster approvals for companies investing $1 billion or more in the U.S. He argued that current regulations deter international businesses. "If you invest a billion dollars or more, we're going to move them quickly through the environmental process," he said.
The press conference veered into other topics, including the Panama Canal. Trump criticized President Jimmy Carter for its sale and hinted at wanting it back under U.S. control. Carter’s body is currently en route to lie in state at the Capitol.
Trump announced plans to reverse Biden’s bans on new oil drilling, especially off U.S. coasts. "Drill baby, drill," he declared, outlining his approach to energy independence.
This followed Biden’s recent order to halt new drilling on 625 million acres of U.S. coastal and offshore waters. Trump framed his plans as a direct response to what he called excessive limitations by the outgoing administration.