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SoftBank and Grab Plan US$1.85B AI Infrastructure Investment in Malaysia

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SoftBank and Grab Plan US$1.85B AI Infrastructure Investment in Malaysia

SoftBank Group and Grab have signed joint development agreements with Petroleum Sarawak Berhad (PETROS) to develop AI infrastructure in Malaysia.

The companies have proposed US$1.85 billion in initial combined seed capital as the first stage of a multi-year build-out targeting five gigawatts or more of AI compute capacity across Sarawak and Peninsular Malaysia.

SoftBank will contribute US$1 billion, Grab US$750 million and PETROS US$100 million.

The investment will be deployed in stages as projects reach key development and customer contract milestones and meet the necessary closing conditions.

The companies will seek additional investors and hyperscaler customers as the projects expand.

Once fully operational, SoftBank, Grab and PETROS will use the facilities to serve governments, multinational companies and small businesses across the region.

SoftBank, Grab and PETROS will jointly develop the Sarawak project, building on a framework agreement they signed in Kuching on 8 October.

The project has a proposed initial investment of US$1 billion, comprising US$800 million from SoftBank and US$100 million each from Grab and PETROS.

Grab has an option to increase its stake in the Sarawak project. Exercising the option would reduce SoftBank’s stake, although SoftBank would remain the majority shareholder.

Grab will lead the Peninsular Malaysia project as its founding shareholder, contributing US$650 million of the proposed US$850 million initial seed capital.

SoftBank will provide the remaining US$200 million. Grab also plans to bring in long-term strategic investors as the project scales.

The project will rely on third-party equity and non-recourse project financing to fund further development.


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