24/7 Market News Snapshot 01 October, 2024 – VCI Global Limited Ordinary Share (NASDAQ:VCIG)

October 1, 2024

DENVER, Colo., 01 October, 2024 (247marketnews.com) – (NASDAQ:VCIG) are discussed in this article.
VCI Global Limited has experienced a notable upswing, with its ordinary shares (VCIG) opening at $0.156 and climbing as high as $0.191, marking a substantial increase of 24.03%. This significant surge was underscored by a trading volume of 5.58 million shares, reflecting a surge in investor interest and confidence in the stock’s future potential. The optimistic market sentiment surrounding VCIG suggests that this momentum is likely to continue, further establishing its profile as a compelling investment opportunity.

In conjunction with this bullish activity, VCI Global Limited has announced an important development in its strategic growth, securing a remarkable investment of US$30 million from Alumni Capital LP. This follows a prior investment of US$5 million, reinforcing the company’s ambitions within the burgeoning field of AI cloud computing. The newly acquired funds provide VCI Global with the flexibility to orchestrate the establishment of the AI Computing Center (AICC), a cutting-edge facility set to commence development in the second quarter of 2025. The AICC will feature 512 NVIDIA H200 Tensor Core GPUs, propelling VCI Global into the ranks of the world’s top 30 computing centers. This advanced infrastructure will be critical for accelerating data processing tailored for generative AI and high-performance computing.

Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global, articulated his enthusiasm regarding the investment’s potential to enhance the company’s trajectory. He expressed a commitment to leveraging the funds to create a world-class computing center aimed at serving a diverse client base, particularly in Southeast Asia. Operating across five key sectors, VCI Global remains resolute in its mission to foster innovation and deliver significant value across various industries while driving advancements in AI technology.

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