24/7 Market News Snapshot 27 November, 2024 – VCI Global Limited Ordinary Share (NASDAQ:VCIG)

November 27, 2024

DENVER, Colo., 27 November, 2024 (247marketnews.com) – (NASDAQ:VCIG) are discussed in this article.
VCI Global Limited is experiencing a remarkable pre-market surge, with its ordinary shares currently priced at $2.509, reflecting a significant increase of 40.17% from the prior close of $1.790. This impressive momentum is underscored by a robust trading volume of 5.72 million shares, indicating strong investor interest and anticipation surrounding the company’s trajectory. Technical indicators suggest that this bullish trend could persist, potentially leading to further price elevation in the coming days.

In tandem with this market activity, VCI Global has announced a transformative partnership through its subsidiary, V-Gallant Sdn. Bhd., which has received a conditional Letter of Award valued at approximately US$24 million from Hexatoff Group. This substantial project aims to enhance the digital infrastructure across Southeast Asia by establishing a cutting-edge data center. V-Gallant is set to provide advanced AI hardware and software solutions, featuring an innovative AI computing system powered by 640 units of NVIDIA H200 Tensor Core GPUs.

This initial phase marks a pivotal advancement for Hexatoff Group, a distinguished turnkey solutions provider, renowned for its commitment to delivering innovative infrastructure projects. The collaboration is expected to elevate the region’s profile within the AI and digital infrastructure sectors, reflecting a broader trend of rising investments as reported by the Malaysian Investment Development Authority. This increase highlights Malaysia’s growing appeal as a burgeoning market in the digital economy, attracting the attention of major technology firms.

Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global, articulated the significance of this partnership, asserting that it aligns with the company’s core mission to advance AI technology while promoting a sustainable digital future. This collaboration not only positions VCI Global at the forefront of technological innovation but also signifies its crucial role in shaping the region’s digital landscape.

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