KUALA LUMPUR, Malaysia, Oct. 01, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global” or the “Company”) today announced a new investment commitment of US$30 million from Alumni Capital LP (“Alumni Capital”). Following an earlier investment of US$5 million from Alumni Capital, this additional US$30 million, in exchange for VCI Global common shares, will reinforce VCI Global’s strategic push into its AI cloud computing business, particularly for its planned developments in the second quarter of 2025. VCI Global retains the right, but is not obligated, to draw on this amount, providing the Company with the flexibility to access the funds as needed, while preserving the option to forgo the drawdown if other resources become available or conditions change.
With an approved capital infusion of US$30 million, VC AI Limited (“VC.AI”), a new subsidiary of VCI Global, will be launching the AI Computing Center (AICC) in Malaysia. This computing center, equipped with 512 NVIDIA H200 Tensor Core GPUs, is estimated to rank among the top 30 globally, enabling the efficient processing of vast amounts of data at high speeds—essential for generative AI and high-performance computing applications.
“We are confident that this US$30 million investment from Alumni Capital will significantly empower our strategic growth in AI cloud computing. It enables us to establish a world-class AICC in Malaysia, serving clients globally, especially in Southeast Asia. We are fully committed to leveraging these resources to foster innovation and advance the AI landscape,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
About VCI Global Limited
VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The AI business delivers GPU servers, GPU cloud computing services, AI and large language model (LLM) solutions, while the Robotics segment focuses on post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.
