Why VCI Global Shares Are Surging Today

VCI Global Limited VCIG shares are gaining Friday morning following its debut into artificial intelligence (AI) and big data industries.

The company has partnered with Fusionex Group to establish a mutually beneficial exclusive collaboration.

Under the deal, VCI Global has selected Fusionex as its technology partner, primarily focusing on Southeast Asia. VCI Global will leverage Fusionex's Analytics GIANT solution to deliver strategic guidance to its clientele. 

The company plans to tap into the highly lucrative global AI market with the deal, which is estimated to be valued between $110 billion and $120 billion in 2022. Furthermore, industry projections indicate that the Asia Pacific market is poised to grow at a compound average rate of 35% to 40% from 2022 to 2030, VCI Global added.

"This collaboration is thus ideal as whilst tapping on Fusionex's expertise, we subsequently are able to offer our consulting expertise to our vast network of members," said Dato' Victor Hoo, Group Executive Chairman and CEO of VCI Global.

Price Action: VCIG shares are trading higher by 23.1% to $2.98 in the premarket session on the last check Friday.