Grab Holdings (NASDAQ:GRAB), a Southeast Asian super-app for ride-hailing, delivery, and fintech services, closed at $3.44, up 0.88%. Investors were weighing Q3 revenue above estimates, record adjusted EBITDA, and fresh AI infrastructure plans.
Trading volume reached 88.9 million shares, coming in about 42% above its three-month average of 62.6 million shares. Grab Holdings IPO'd in 2020 and has fallen 71% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) closed at 7,550, up 2.35%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 25,253, up 2.74%. Among internet services and mobility/food delivery platforms, Uber Technologies (NYSE:UBER) closed at $71.17, up 3.76%, while Lyft (NASDAQ:LYFT) closed at $16.76, down 1.93%.
What this means for investors
Grab stock edged up on Monday, Nov. 9, after the company and SoftBank Group announced a joint agreement to develop artificial intelligence infrastructure in Malaysia, expanding Grab's role in Southeast Asia's AI buildout. The project seeks to construct one of the largest AI infrastructure facilities of its kind in the region.
This announcement added to investor optimism about the company's third-quarter earnings release on Nov. 3. Grab reported Q3 revenue of $1.1 billion, which represented 27% year-over-year growth, and record adjusted EBITDA of $237 million, a strong 73% year-over-year jump. Moreover, its adjusted free cash flow nearly doubled year over year to $533 million on a trailing twelve-month basis.
Last week's Q3 2026 results included raised full-year guidance. That helped drive the stock's latest rerating after the company beat expectations on earnings and outlook.
However, Grab suffered a setback last month when its attempt to acquire Taiwan-based Foodpanda from Delivery Hero was rejected by the Taiwanese government as anticompetitive. The country's food delivery market is dominated by Uber and Foodpanda. Uber has a stake in Grab, so blocking the acquisition makes sense. On the plus side, Grab gains a $60 million breakup fee and keeps $550 million in cash it would have used in the deal.
Robert Izquierdo has positions in Grab and Uber Technologies. The Motley Fool has positions in and recommends Lyft. The Motley Fool recommends Grab and Uber Technologies. The Motley Fool has a disclosure policy.