Microsoft, Corporation (MSFT) Throwing Some Investment Capital in Ride-Sharing Space

Microsoft, Corporation (NASDAQ:MSFT) is investing in a partnership with ride-hailing company Grab.

Grab operates in eight countries around Southeast Asia, providing food-delivery, ride sharing and mobile payments among other services. The two companies will collaborate on services such as big data and artificial intelligence, and Grab will be able use Microsoft’s Azure cloud computing service to improve its capabilities.

CNBC provides details:

“We’re fascinated with the companies that are emerging from Southeast Asia,” Peggy Johnson, executive vice president at Microsoft, told CNBC in an interview. “It’s been amazing to watch what they have done with technology, in the way that they’ve applied it to solving problems for their customers.”

The companies did not disclose the amount of capital involved in the joint investment. Grab is valued at $11 billion, and has raised $2 billion from Toyota and other regional investors.

Microsoft, Corporation shares . Year-to-date, MSFT has gained 25.71%, versus a 5.65% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 69 stocks in the Software – Application category.

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