24/7 Market News Snapshot 29 October, 2024 – VCI Global Limited Ordinary Share (NASDAQ:VCIG)

October 29, 2024

DENVER, Colo., 29 October, 2024 (247marketnews.com) – (NASDAQ:VCIG) are discussed in this article.
VCI Global Limited (NASDAQ:VCIG) is currently experiencing a significant surge in trading activity, reflected by a remarkable 31.85% rise in its share price to $0.101 during pre-market sessions. This increase follows a robust trading volume of 9.28 million shares, highlighting heightened investor interest and optimism around the company’s prospects. As market sentiment shifts, VCI Global’s stock may continue to attract attention, offering potential opportunities for investors keen on capitalizing on this bullish trend.

In conjunction with the market performance, VCI Global has announced a groundbreaking contract secured by its subsidiary, V Gallant Sdn Bhd, valued at $16 million. This contract focuses on the development of an innovative AI digital human-enabled live streaming platform in partnership with a major player in the e-commerce industry. The project is set to revolutionize online interactions and engage consumers in unprecedented ways.

The planned live streaming platform will leverage advanced AI technologies, notably including NVIDIA H200 Tensor Core GPUs, alongside proprietary software developed by V-Gallant. Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global, emphasized the significance of this contract as a pivotal milestone for the company’s AI division. He stated that this partnership positions VCI Global favorably within the rapidly growing e-commerce landscape, particularly as digital transactions are projected to surge globally.

The platform aims to enhance user experiences through features that promote content personalization and interaction, ultimately fostering stronger connections between content creators and consumers. With nearly 3 million registered users and over 2,000 merchants, the partner company underscores the escalating influence of e-commerce, forecasting a market growth trajectory to reach approximately $120 billion by 2029. VCI Global’s strategic focus on innovation across various sectors, including AI and fintech, sets the stage for continued progress as a leader in revolutionizing digital engagement tools in a prominent market.

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