Dubai billionaire says his OpenAI and Anthropic bets made billions

Hussein Sajwani, founder of Dubai's DAMAC Group, said at a Bloomberg forum that his investments in OpenAI, SpaceX and Anthropic have already brought in billions of dollars. Investors who bet on big tech in recent years are seeing rich returns.

DAMAC started with Dubai real estate and has expanded into tech and data centers. Anthropic's IPO reportedly drew many times more demand than shares available, as the market is excited about what could be the biggest IPO in history.

At the same time, worries are growing that AI companies may be overvalued. Sajwani admitted there are risks. He believes AI will keep making money, but a market pullback can't be ruled out. A Blackstone executive sees strong chances in digital infrastructure and logistics.

PIMCO is more careful. Its president Christian Strack expects lending for digital infrastructure to grow more slowly. Even if money keeps coming in, he said demand can't double every year.