Article · AI translation
IT Home reported on November 10 that SoftBank and Southeast Asian ride-hailing platform Grab signed a cooperation agreement yesterday local time. The two companies will work with Petroleum Sarawak (PETROS) to develop artificial intelligence infrastructure in Malaysia's Sarawak state and Peninsular Malaysia.
In the seed round, the two companies plan to invest $1 billion and $750 million, respectively, in the two projects, while PETROS will contribute $100 million. The parties will seek other investors and hyperscale data center customers to support the development and expansion of the multiyear projects, which have a combined planned capacity of more than 5 GW.
Grab co-founder and CEO Anthony Tan is expected to oversee the development of both projects and appoint dedicated management teams to handle day-to-day operations. SoftBank has also agreed in principle to a five-year lockup of its Grab shares.