SoftBank, Grab, Petros to Invest $1.85 Billion for Malaysia AI Infrastructure

By Kosaku Narioka

SoftBank Group, Singapore-based Grab Holdings and Malaysian oil and gas company Petroleum Sarawak have agreed to invest $1.85 billion to develop artificial-intelligence computing capacity in Malaysia.

The Japanese technology investment company and the Singapore-based ride-hailing app operator said late Monday that the investment forms part of a multiyear plan to develop AI infrastructure, with a long-term target of five gigawatts or more of computing capacity.

The two companies said the initial seed capital of $1.85 billion is made up of $1 billion from SoftBank Group, $750 million from Grab and $100 million from Petroleum Sarawak, also known as Petros.

The proposed investment will be deployed in stages subject to projects achieving key development and customer contract milestones, the companies said. The parties will also seek additional investors and customers to support project development and expansion.

The collaboration aims to meet growing demand for computing capacity across Southeast Asia, they said.

"Together with SoftBank Group, we plan to build critical AI infrastructure in Malaysia, where Grab began, for all of Southeast Asia," Grab Chief Executive Anthony Tan said. "This infrastructure will allow us to accelerate the development of localized AI solutions for our communities."

Malaysia has become a key destination for data center and AI investments in Southeast Asia, thanks partly to its relatively low electricity costs and abundant land.

Malaysian Prime Minister Anwar Ibrahim said in October that SoftBank Chief Executive Masayoshi Son was planning $50 billion of AI and technology-related investments in the country. Anwar said the capital injection would focus on AI, emerging technologies and data centers.

Grab's Tan is expected to oversee the development of both projects in Peninsular Malaysia and Sarawak, a Malaysian state on Borneo island, and appoint dedicated management teams to run day-to-day operations.

The proposed initial seed capital for the Peninsular Malaysia project is $850 million, comprising $650 million from Grab and $200 million from SoftBank. The proposed initial investment in the Sarawak project is $1 billion, comprising $800 million from SoftBank, $100 million from Grab and $100 million from Petros.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

November 09, 2026 22:06 ET (03:06 GMT)