Grab partners with SoftBank, PETROS on USD 1.85 billion Malaysia AI infrastructure plan
GRAB•Grab, SoftBank Group and PETROS plan USD 1.85 billion in initial capital for AI infrastructure projects in Malaysia, subject to project milestones and closing conditions. The partners are targeting at least five gigawatts of AI compute capacity over the long term.
1. Planned investment
Grab signed joint development agreements with SoftBank Group for Malaysian AI infrastructure, with PETROS participating in planned initial capital of USD 1.85 billion. SoftBank Group will contribute USD 1 billion, Grab USD 750 million and PETROS USD 100 million, subject to project milestones and closing conditions.
2. Projects and capacity
The Sarawak project has USD 1 billion in proposed initial investment, while Grab will lead the USD 850 million Peninsular Malaysia project. The partners are seeking additional investors and hyperscaler customers as they target at least five gigawatts of AI compute capacity over the long term.
3. Share lock-up
SoftBank Group agreed in principle to a five-year lock-up on Grab shares held directly by a group entity, subject to customary exceptions.
