Grab Holdings Limited filed a Form 6-K with the SEC on November 9, 2026, disclosing that it, SoftBank Group Corp., and Petroleum Sarawak Berhad signed joint development agreements to build AI infrastructure in Malaysia.

Key Highlights

  • Three-party agreement: Grab Holdings Limited, SoftBank Group Corp. (TSE: 9984), and Petroleum Sarawak Berhad ("PETROS") signed the joint development agreements on November 9, 2026.
  • Proposed seed capital of US$1.85 billion: Comprising US$1 billion from SoftBank Group, US$750 million from Grab, and US$100 million from PETROS, according to the filing.
  • Long-term capacity target: The filing states a long-term target of five gigawatts or more of AI compute capacity across Sarawak and Peninsular Malaysia.
  • Staged deployment: The proposed investment is to be deployed in stages subject to projects achieving key development and customer contract milestones, and the necessary closing conditions.
  • Binding but incomplete: The agreements contain binding development and funding obligations, but operational terms and each party's investment terms remain subject to definitive agreements and conditions specified therein.

Grab's US$750 Million Commitment in a Malaysia AI Infrastructure Plan

According to the Form 6-K filed by Grab Holdings Limited (NASDAQ:GRAB) for the month of November 2026, the company joined SoftBank Group Corp. and PETROS in signing joint development agreements on November 9, 2026, aimed at developing AI infrastructure across Malaysia. The filing was signed by Peter Oey, Chief Financial Officer of Grab Holdings Limited.

The filing describes a proposed initial combined seed capital of US$1.85 billion. SoftBank Group is listed as contributing US$1 billion, Grab US$750 million, and PETROS US$100 million. The combined investment, the filing states, forms part of a multi-year plan to develop AI compute capacity across Sarawak and Peninsular Malaysia, with a long-term target of five gigawatts or more. The filing specifies that the proposed investment will be deployed in stages subject to projects achieving key development and customer contract milestones, and the necessary closing conditions.

The filing notes that while the joint development agreements contain binding development and funding obligations, "the operational terms of the joint venture entities and the terms of each party's investment remain subject to definitive agreements and conditions specified therein." Two announcements made in connection with the agreements were furnished as exhibits to the report: one focused on plans to invest in Sarawak specifically, and another on the broader Malaysia joint development agreements signed by SoftBank Group and Grab.

What Was Disclosed

Grab Holdings Limited reported the signing of joint development agreements with SoftBank Group and PETROS for AI infrastructure development in Malaysia, with a proposed combined seed capital of US$1.85 billion and a long-term target of five gigawatts or more of AI compute capacity.