Southeast Asian Tech Giant Plans to Triple Profits Using AI by 2028

Grab, Southeast Asia's largest ride-hailing and delivery company, announced ambitious plans to triple its profits by 2028 through artificial intelligence and expanded services. The company's president outlined goals for over 20% annual revenue growth and reaching $1.5 billion in earnings within three years.

Southeast Asia’s dominant ride-hailing and delivery company Grab has unveiled an ambitious strategy to triple its earnings by 2028, banking on artificial intelligence technology and expanding into new service areas like online grocery shopping and financial products, according to company leadership.

The tech giant has established aggressive three-year objectives, including annual revenue increases exceeding 20% and boosting EBITDA earnings to $1.5 billion by 2028 – three times higher than last year’s performance, President and Chief Operating Officer Alex Hungate revealed during a Reuters interview at the company’s Singapore offices.

The ride-sharing industry across Southeast Asia has undergone a major transformation, moving away from subsidy-driven growth toward profitability-focused strategies. Companies are now dealing with increased operational expenses while developing AI-enhanced super-apps that combine transportation, delivery, and financial services to maximize revenue.

The Nasdaq-traded company made headlines earlier this month by reporting its inaugural full-year net profit in its 2025 financial results, marking a milestone 14 years after launching and following billions in investor funding. Despite this achievement, Grab’s 2026 revenue and adjusted EBITDA projections disappointed Wall Street analysts, causing stock prices to decline. The company’s shares have dropped over 15% this year, compared to Uber’s 11% decline and Lyft’s 31% fall.

Huatai Securities analysts warned in a recent report that increased investments in self-driving vehicle partnerships and AI development might impact profitability. They also highlighted potential challenges including “slower-than-expected improvement in user penetration and macroeconomic volatility.”

According to Hungate, Grab plans to reach its 2028 objectives by maximizing efficiency within its primary app and delivery infrastructure. Since customers already use Grab regularly, the company can offer combined services including transportation, food delivery, and grocery shopping at reduced costs, he explained.

The platform, which serves over 900 cities throughout Southeast Asia, is also broadening its financial service portfolio. Hungate noted that the company can leverage its data analytics to assess loan risks more accurately than conventional banking institutions typically manage.

Grab has established “toeholds” beyond Southeast Asia, including its purchase of U.S. wealth management platform Stash, Hungate mentioned.

Regarding capital allocation, Hungate stated that Grab’s “first and best” cash utilization strategy involves reinvesting in Southeast Asian operations to stimulate organic expansion, though the company remains receptive to strategic acquisitions.

He confirmed there are currently no plans for a secondary stock listing and provided “no update” regarding media speculation about a possible merger with smaller Indonesian competitor GoTo.

The company is investigating the development of AI agents to enhance customer loyalty through automated assistants designed for drivers and merchants, Hungate added.

While Grab collaborates with foundational model providers like OpenAI, Hungate emphasized the company’s preference for using their technology to create proprietary agents rather than integrating popular chatbots such as ChatGPT.

“We think that our brand and the frequency with which customers use us will mean that the agents that we deploy will be ones that do a better job for them,” he said.