2 Trump Sons Launch Data Center Business
The Trump family has already been in the cryptocurrency business, but now they’re diving into the data centers that support the burgeoning digital ecosystem.
New York-based investment firm Dominari Holdings announced this week that it was partnering with President Donald Trump’s two oldest sons on a new data center business called American Data Centers Inc.
Donald Trump Jr. and Eric Trump are part owners of the business, along with industry professionals in the artificial intelligence sector, according to a release. Dominari Holdings currently maintains a 32% stake in the company.
"The establishment of ADC is crucial for the development of AI infrastructure in the United States,” Eric Trump, a member of the new company’s board, said in a statement. “With the soaring demand for data and an urgent need for scalable and efficient data solutions, ADC is poised to become a leading player in the rapidly advancing AI sector."
Dominari’s stock on the Nasdaq shot up more than 89% when Eric Trump was named an adviser to the firm earlier this month. It has gained more than 560% in the last 30 days, although the stock has slipped from a $13.58 per share 52-week high on Feb. 13 to above $9 today.
Dominari President Kyle Wool said the investment aligned with the company’s focus on high-growth sectors. The company was formerly known as Aikido Partners Inc., which since 2017 had been focused on the biotechnology space and the development of cancer treatments, according to the company website.
Wool signaled that Eric Trump’s arrival to the firm would mark a push into data centers and artificial intelligence, The Wall Street Journal reported at the time.
Tech firms, developers, infrastructure providers and billionaire investors have been pouring money into data centers and energy production as they race to deploy AI models into all aspects of business, media and life. Data centers are projected to consume 6.6% of all electricity generated in the U.S. by 2028.
Dominari’s announcement doesn't mention The Trump Org., the company led by the president’s sons while he’s in the White House. The Trump Org. didn’t respond to a request for comment about any investment it may have with the new data center venture.
The president and his family, while not data center developers, have made their fortunes in real estate and recently branched out into cryptocurrency. Trump launched a memecoin called $Trump days before taking office that has already earned him at least $100M in fees from trading.
First Lady Melania Trump followed up with the launch of $Melania on Jan. 19, which has since lost 83% of its value, although it was trading up more than 1% in the last 24 hours.
