VCI Global to Develop Next-Generation AI Computing Data Center for the Next Industrial Revolution

KUALA LUMPUR, Malaysia, June 11, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), today announced its strategic plan to build artificial intelligence (AI) computing data centers, designed to meet the intense computational demands of AI workloads. This initiative marks a significant step forward in driving the next industrial revolution through cutting-edge technology.

The AI computing data center will be equipped with advanced water-cooled H200 Graphic Processing Units (GPUs) to support complex computing and big data processing. It will deliver unparalleled computing power services, including GPU rental and storage solutions, offering GPU as a service (GPUaaS) for governments, financial institutions, and businesses. Not only enhancing computational efficiency, but these sophisticated facilities also promote sustainable energy use through innovative cooling technologies.

According to the research conducted by Fortune Business Insights, the global GPUaaS market is experiencing exponential growth, with a compound annual growth rate (CAGR) of 35.8% from 2024 to 2032, projected to reach US$49.84 billion by 2032. This growth is fueled by the expanding data center economy and the escalating demand for cloud computing, high-performance computing, AI, and machine learning across sectors like banking, healthcare, and automotive. VCIG’s venture into GPUaaS will provide organizations with flexible, on-demand access to high-performance computing resources, optimizing AI-driven projects and fostering technological innovation.

VCIG plans to build the first AI computing data center in Malaysia by the first quarter of 2025. Building on this milestone, the Company aims to expand its footprint with additional data centers in Europe and the United States by the end of 2025. Negotiations are already underway with leading technology partners and GPU suppliers to ensure the successful implementation of these pioneering projects.

“We are excited to bring these groundbreaking AI computing data centers to the market and look forward to the positive impact it will have on our community and beyond. As we broaden our presence globally, starting with our first AI computing data center in Malaysia, we are committed to leading the charge in the rapidly growing GPU as a service market, fostering technological advancement and economic growth,” 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. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, cybersecurity, and gamification. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI, robotics, and gamification.

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Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

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