SoftBank, Grab and PETROS sign a $1B seed plan for AI infrastructure in Sarawak with a 5 GW long-term target
SoftBank puts in $800M and leads the project, with $100M each from Grab and PETROS, released in stages tied to development and customer milestones; no hyperscaler customer is named yet.
Why it matters
The joint development agreement moves an October 8 framework deal into a funded phase and puts SoftBank in control of a Southeast Asian compute bet sited on Sarawak's gas and energy base. The $1B is seed capital, small against the 5 GW ambition, and deployment depends on hitting development and customer milestones. The parties say they will seek more investors and hyperscaler customers; watch for a named anchor tenant and a first site.
Key facts
- $1B initial seed capital (about RM4.07B)
- SoftBank $800M, Grab $100M, PETROS $100M
- Long-term target of five gigawatts
- Builds on an October 8, 2026 framework agreement
- Project led and majority-owned by SoftBank Group
- Funds released in stages against milestones