Microsoft investing in Grab to collaborate on AI, big data and tech projects

MICROSOFT Corp is investing in South-east Asian ride-hailing firm Grab as part of a partnership that the two companies said will allow them to collaborate on technology projects, including big data and artificial intelligence. The companies did not disclose the deal value. Grab had earlier said it planned to raise roughly US$3 billion by year-end, of which it has already raised US$2 billion. Last week, Reuters reported that existing backer SoftBank Group Corp was closing in on a deal to invest about US$500 million in Grab as part of the funding round. Sources said that Grab is likely to tap strategic and financial firms for the remainder of the funding.