VCI Global provides updates on AI business, capital raising

VCI Global announced its planning related to the reorganization of its AI business, capital raising, and the forthcoming share repurchase program. AI Business: VCIG has initiated a strategic reorganization of its AI operations under the newly formed subsidiary, VC AI Limited. The AI business has been restructured into four pivotal business segments: GPU servers – VCIG will launch its proprietary brand of GPU servers for the AI industry and commence operation in October 2024. GPU cloud computing – The Company will debut its AI data center business by launching AI Computing Center in Malaysia, with GPU cloud computing services scheduled to commence in the second quarter of 2025, as previously announced. AI and large language model solutions – VCIG has also made notable advancements in its AI and LLM solutions capabilities, which are now actively offered to clients. Cybersecurity – The Company continues to enhance its cybersecurity solutions, focusing on wider and more sophisticated offerings within the AI space. Capital Raising: The capital-raising round for the AI business has been successfully concluded, and the initial funding needed for this business has been secured. The Company is now poised to implement its growth strategy.