: VCI Global’s stock soars 70% after it announces collaboration with Microsoft Azure OpenAI services

The stock of VCI Global Ltd. VCIG, a Malaysian consulting group, rose 70% Wednesday, after the company announced a collaboration with Microsoft Azure OpenAI services MSFT. The Kuala Lumpur-based company said it would provide software for the creation of next-generation innovation and tools like GPT-4 and Microsoft’s new AI-powered chat tool, Bing Chat Enterprise. “The company is also able to capitalize on Microsoft Azure OpenAI’s cutting edge AI technology for its current and new projects which include the robosale software which is an all in one fully automated AI-assisted sales platform,” VCI said in a statement. VCI went public on the Nasdaq in April. The company now has a market cap of about $138 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.