SoftBank, Grab and Petroleum Sarawak commit US$1.85B to Malaysian AI data centres
SoftBank, Grab and Petroleum Sarawak will invest US$1.85 billion in two artificial intelligence infrastructure projects in Malaysia. The partners aim to build at least 5 gigawatts of data centre capacity across Sarawak and Peninsular Malaysia. SoftBank provides US$1 billion in seed capital, Grab con
SoftBank, Grab and Petroleum Sarawak have announced a US$1.85 billion investment in two artificial intelligence infrastructure projects in Malaysia. The Japanese technology conglomerate will provide US$1 billion in seed capital, Singapore-based Grab will contribute US$750 million and the Malaysian state-owned oil and gas firm will add US$100 million. The companies said in a joint statement that their long-term goal is to establish at least 5 gigawatts of data centre capacity across Sarawak and Peninsular Malaysia.
“AI infrastructure will power the next wave of growth, and Malaysia has the talent and ambition to help lead it,” said Masayoshi Son, chairman and CEO of SoftBank. “Together with Grab, we will build the capacity needed to support Malaysia’s digital ambitions and accelerate AI innovation across Southeast Asia.” Son is Japan’s second-richest tycoon, with a real-time net worth of US$48 billion, ranking behind Uniqlo billionaire Tadashi Yanai on US$69.8 billion.
“Southeast Asia is one of the world’s fastest-growing digital economies, and Grab is at the forefront of developing AI solutions for the region,” said Anthony Tan, Grab’s co-founder and CEO. “With SoftBank Group, we plan to build critical AI infrastructure in Malaysia, where Grab began, for all of Southeast Asia. This infrastructure will allow us to accelerate the development of localised AI solutions for our communities.”
Malaysia has become a major digital infrastructure hub since Singapore tightened restrictions on new data centres, according to Forbes. The country’s data centre capacity is projected to rise to 6.8 gigawatts by 2030 from 1.3 gigawatts as of June this year, making it one of Asia’s largest data centre hubs, according to property consultancy Cushman & Wakefield.
The Malaysian venture follows separate setbacks for SoftBank’s and Grab’s expansion plans. Last week, China blocked SoftBank’s proposed acquisition of ABB’s robotics unit, which has facilities in mainland China. In October, Taiwan rejected Grab’s proposed US$600 million takeover of Foodpanda’s local business. Grab, founded in 2012, operates in eight countries and has expanded from taxi booking and ride-hailing into food delivery, digital payments and financial services.
