Google Analytics counts our visits, with cookies. No thanks turns it off and removes its cookies; in Europe, the UK, Switzerland and India, or wherever we cannot tell where you are, it stays off unless you accept. Cookie Notice

Advertise
PRICES
BTCETHSOLXRPBNBTONDOTLTCPOLHBARNEARARBUNI

← Back to NewsDesk

AI summary of a third-party reportBearishNewsDesk

Elice shares close 30% below IPO price as AI jitters hit Seoul

South Korean data centre firm Elice fell more than 30% on its trading debut despite retail demand topping 400 times the allocation, as the KOSPI dropped almost 4% and Brent crude passed $111 a barrel.

Why it matters: The article links a weak AI data centre listing and a near-4% KOSPI fall to wider doubts about AI infrastructure valuations, while higher oil prices add to market uncertainty.

InvestIn.News NewsDesk · 1 min read
Share
Picture from CoinDesk for: Elice shares close 30% below IPO price as AI jitters hit Seoul
Image: CoinDesk
Original reporting: James Van Straten, CoinDesk

Key points

  • The IPO raised $151m at a valuation of roughly $755m, according to Bloomberg.
  • The KOSPI fell almost 4% to 5,552, with Samsung Electronics down around 3% and SK Hynix roughly 4%.

South Korean data centre company Elice fell sharply on its trading debut on Tuesday, deepening investor doubts about artificial intelligence infrastructure spending.

The Elice IPO raised $151m at a valuation of roughly $755m, according to Bloomberg, and drew retail demand more than 400 times the allocation. The weak debut came alongside a broader sell-off in South Korean equities, with the KOSPI dropping almost 4% to 5,552. Samsung Electronics fell around 3% and SK Hynix roughly 4%.

The pressure carried into US pre-market trading, where CoreWeave slipped another 3%. The neocloud sector is under scrutiny over borrowing costs, high debt levels and whether capital-intensive expansion will pay off. Technology shares, Bitcoin and gold were all lower on Tuesday morning.

Read the full story on CoinDesk

Live updates on NewsFeeds:AIDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

← Back to NewsDesk