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.