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On October 20, 2026, South Korean AI cloud service provider Elice saw its share price plunge sharply on its first day of listing on KOSDAQ, falling as much as 33% to 61,000 won. According to 36Kr·AI, about 300 billion won in market value evaporated within less than half an hour of trading. The company raised 201 billion won in its IPO, with an offering price of 90,500 won at the upper end of the range, and retail subscription exceeded 400 times. The report placed this decline alongside cases such as Firmus withdrawing its IPO and CoreWeave's sharp share price drop, pointing to cooling investor enthusiasm for AI infrastructure. There are currently no subsequent development facts, and the event status remains that its share price fell as much as 33% on its first day of listing.
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- Source:36Kr · AI
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Oct 21
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Oct 20
CNBC Technology
AI rebound fizzles: South Korean AI data center company Elice falls over 30% on its first day of trading
South Korean AI data center company Elice fell more than 30% on its first day of trading on South Korea's secondary market, while CoreWeave closed lower and Oracle's bond yields rose, with credit concerns over the AI trade persisting. The Kospi has entered bear market territory, and European tech stocks opened lower; Nvidia-backed Firmus, Blackstone-backed AirTrunk and SoftBank's SB Energy have scrapped their IPO plans. Nvidia has pledged to invest nearly $10 billion in European companies, universities and research institutions, and has reached a strategic partnership with the German government.