VCI Global Joins AI Computing Alliance to Establish Center in Malaysia

VCI Global joins AI Computing Alliance, to build center in Malaysia By Investing.com

KUALA LUMPUR - VCI Global Limited (NASDAQ: VCIG), a Malaysia-based AI and technology aggregator, has announced its partnership with the AI Computing Alliance (AICA), led by Enlight Corporation (TWSE: 2438) and Super Micro Computer, Inc. (NASDAQ: NASDAQ:SMCI). The alliance, which includes several technology firms, is set to establish AI Computing Centers (AICCs) to foster the AI ecosystem's growth. The first AICC, aimed to be one of Asia's fastest AI data centers, will be set up in Taiwan, with operations expected to start by the end of 2024. This center will be powered by NVIDIA H200 Tensor Core GPUs, anticipated to rank it 15th globally in AI computing power. The facility will offer GPU as a Service (GPUaaS) to governments, financial institutions, and businesses. VCI Global is slated to be a strategic partner in the AICA, with plans to replicate the Taiwan AICC model in Malaysia by the second quarter of 2025. This Malaysian AICC will serve as a hub for AI research, development, and application, aiming to bolster Malaysia's position in the global AI market. The expansion of AICCs to Singapore, Hong Kong, Japan, and Indonesia aligns with the increasing demand for AI computing power, driven by Large Language Models (LLMs) and AI applications. The global LLM market is projected to grow from approximately US$7 billion in 2024 to over US$35 billion in 2030, with a compound annual growth rate of over 30%, according to MarketsandMarkets research. Mr. Sam Ding, Chief Executive Officer of AICA Taiwan, expressed enthusiasm about VCI Global's participation, especially for the alliance's interests in Southeast Asia. Dato' Victor Hoo, Group Executive Chairman and CEO of VCI Global, also conveyed excitement for joining the alliance and advancing the AI ecosystem in the region. VCI Global focuses on consulting, fintech, AI, robotics, and cybersecurity through its subsidiaries. The company's main operations span Asia Pacific, the United States, Europe, and the Middle East. Its technology ventures include a proprietary financing platform and a secured messaging platform for governments and organizations. The information in this article is based on a press release statement. In other recent news, Super Micro Computer has been the subject of attention from Barclays (LON:BARC), with the firm maintaining its Overweight rating and a price target of $1,000. Barclays anticipates Super Micro Computer to report in-line revenue for the June quarter and projects better-than-expected revenue guidance for the September quarter. This optimism stems from the company's deployment of liquid cooling technologies in large Direct Liquid Cooling (DLC) AI clouds. The firm also expects Super Micro Computer to exceed its conservative gross margin guidance for the June quarter, potentially leading to higher than expected earnings per share. In related news, Super Micro Computer and Nvidia Corporation (NASDAQ:NVDA) have been making significant strides in the artificial intelligence (AI) sector, with increased demand for next-generation AI solutions. Super Micro Computer's shares are projected to foster growth in the second half of the fiscal year 2025 and beyond. Nvidia Corporation, on the other hand, has received server orders from Elon Musk's AI startup, which are equipped with Nvidia's chips and are in high demand for their ability to power a wide range of AI applications. On the other hand, Super Micro Computer's third-quarter revenue did not meet analysts' estimates, leading to a dip in its stock price. AMD (NASDAQ:AMD), a partner of Super Micro, also saw its shares drop due to a projection of $4 billion in AI chip sales for 2024, which failed to meet Wall Street's high expectations. Despite these developments, analysts remain optimistic about the future trajectory of these companies in the AI market. As VCI Global Limited (NASDAQ: VCIG) embarks on its strategic partnership with the AI Computing Alliance (AICA) and Super Micro Computer, Inc. (NASDAQ: SMCI), it's worth noting the financial health and market perception of SMCI. Super Micro Computer, recognized for its role in the Technology Hardware, Storage & Peripherals industry, is positioned to contribute significantly to the development of the AI Computing Centers (AICCs) in Asia. InvestingPro data highlights that Super Micro Computer has a robust market capitalization of 40.73 billion USD, which underscores its significant presence in the market. With a P/E ratio of 36.15 and an adjusted P/E ratio of 38.83 for the last twelve months as of Q3 2024, SMCI is trading at a high earnings multiple. This could reflect investor confidence in its future growth prospects, particularly in light of the company's substantial revenue growth of 79.79% during the same period. Moreover, the company has demonstrated impressive revenue growth of 200.01% in Q3 2024, which aligns with analysts' anticipation of sales growth in the current year. This is a testament to SMCI's strong performance and potential for continued expansion within the AI and technology sectors. Additionally, SMCI's gross profit margin of 15.97% indicates its ability to maintain profitability despite competitive pressures. Despite recent market fluctuations, with the stock taking a significant hit over the last week, SMCI's long-term performance remains noteworthy. The company has seen a high return over the last year, with a 119.19% price total return. Investors considering capitalizing on the company's growth can find more InvestingPro Tips, which offer deeper insights into SMCI's financials and market trends. With 18 additional tips available, exploring these could be valuable for making informed investment decisions. For those interested in further analysis and tips on Super Micro Computer, Inc., visit InvestingPro at https://www.investing.com/pro/SMCI. Remember to use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

VCI Global Enters Into AI Computing Alliance (AICA) Led by Enlight Corporation and Supermicro

KUALA LUMPUR, Malaysia, July 26, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) ("VCI Global", "VCIG", or the "Company"), an AI and technology aggregator, is thrilled to announce its entry into a groundbreaking AI Computing Alliance ("AICA"). This is a collaborative initiative led by Enlight Corporation (TWSE: 2438) ("Enlight"), and Super Micro Computer, Inc. (NASDAQ: SMCI) ("Supermicro") and other alliance partners including Fortinet, Inc., UNIC Technology Corp., Bingo Group Holdings Limited, J&V Energy Technology Co., Ltd., Red Building Capital, ZoobeTek, iSpan International Inc., and Bulky Animation Studio. This alliance will jointly establish AI Computing Centers (AICCs) and advance the AI ecosystem. The first AICC, a high-performance computing facility, will be established in Taiwan. It is spearheaded by Enlight in partnership with Supermicro, Chief Telecom Inc., VMFive, Infinitix Inc., and Inventec Besta Co., Ltd. The AICC will be powered by NVIDIA H200 Tensor Core GPUs, which offer 1.43 times the performance speed compared to the NVIDIA H100 Tensor Core GPUs. With 256 units of NVIDIA H200 Tensor Core GPUs generating a total of 93 PFLOPS of AI computing power, this AICC is estimated to rank 15th globally in AI computing power, making it one of the fastest AI data centers in Asia. This AICC will deliver premier services by offering GPU as a Service (GPUaaS) for various entities such as governments, financial institutions, and businesses. The Taiwan AICC is expected to commence operations by the end of 2024. VCI Global will serve as the strategic partner in the AICA initiatives with plans to establish the first AICC in Malaysia by the second quarter of 2025. This Malaysian AICC, which will replicate the Taiwan AICC's model, will act as a central hub for advancing AI research, development, and application, driving industry growth and enhancing Malaysia's prominence in the global AI landscape. After establishing AICCs in Taiwan and Malaysia, the AICA intends to develop additional AICCs globally, including in Singapore, Hong Kong, Japan, and Indonesia. This expansion aims to meet the anticipated high demand for computing power driven by Large Language Models (LLMs) and the increasing use of AI applications. Research from MarketsandMarkets indicates that the global LLM market is expected to grow rapidly, with a compound annual growth rate (CAGR) of over 30%, projected to increase from approximately US$7 billion in 2024 to over US$35 billion in 2030. This initiative is part of a broader strategy to create AI computing centers worldwide, addressing the growing need for computing power. VCI Global's involvement supports AICA's mission to become a leading platform for AI computation, drive technological innovation, and promote the widespread adoption of AI technologies globally. "We are excited to have VCIG to participate in the alliance to serve our interest in Southeast Asia, where we believe their involvement will further accelerate the success of the alliance. We look forward to developing our next AICC in Malaysia in the near future," said Mr. Sam Ding, Chief Executive Officer of the AICA Taiwan. "We are extremely excited about entering this alliance and participating in such a formidable alliance to advance the AI ecosystem to better serve the region," 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, and cybersecurity. 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 and robotics. Enlight strives to serve the customers by focusing on product design requirements, process and quality enhancement. In May 2019, Enlight launched a brand that provides household appliances in Taiwan through both online and offline. The company expanded into beauty and skincare markets, distributing Swiss salon skincare brand "BelleWave" and its own brand "Jubilux". Supermicro is a global technology leader committed to delivering first-to-market innovation for Enterprise, Cloud, AI, Metaverse, and 5G Telco/Edge IT Infrastructure. We are a Rack-Scale Total IT Solutions provider that designs and builds an environmentally friendly and energy-saving portfolio of servers, storage systems, switches, software, along with global support services. For more information, please visit https://www.supermicro.com/en/. 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.