SoftBank, Grab and PETROS sign a joint development agreement for AI data centres in Sarawak, with US$1 billion of seed capital and a 5 GW long-term target

What changed

SoftBank Group, Grab and Petroleum Sarawak (PETROS) announced on 9 November a joint development agreement to build AI infrastructure in Sarawak, Malaysia, following a framework agreement signed on 8 October. The proposed initial investment is US$1 billion (about RM4.07 billion): US$800 million from SoftBank Group, which will lead and majority-own the project, and US$100 million each from Grab and PETROS. The money is to be deployed in stages, subject to the projects reaching development and customer contract milestones. The long-term target is five gigawatts of AI compute capacity, a goal rather than a committed build, and the partners will seek more investors and hyperscaler customers. PETROS brings its role in the Sarawak Gas Roadmap and as master developer of the Kuching Low-Carbon Hub. No site, power source or cooling design was given.

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