IT Home On November 10, SoftBank and the Southeast Asian travel platform Grab signed a cooperation agreement locally yesterday. The two parties will work with Sarawak Petroleum (PETROS) to develop artificial intelligence infrastructure in Sarawak state and the Malaysian Peninsula in Malaysia.
The two parties plan to invest $1 billion and $750 million respectively in the two projects during the seed stage, while Sarawak Oil will invest $100 million. The parties will seek additional investors and customers for hyperscale data centers to support the development and expansion of this multi-year project with a total design capacity of over 5GW.
Anthony Tan, co-founder and CEO of Grab, is expected to be in charge of the development of these two projects, and a dedicated management team has been appointed for daily operations. In addition, SoftBank has agreed in principle to lock in its Grab shares for five years.