AI Industry Under Investor Scrutiny, Elice First-Day Trading Plunges 32%
2026-10-21 12:01:18
According to CoinMeta, and as reported by CNBC, the artificial intelligence boom may be entering a more challenging phase, with investors increasingly questioning whether the billions of dollars invested in data centers can be converted into sustainable profits. The dismal listing of Elice, a South Korean AI infrastructure provider, serves as the latest warning sign, and investors may now scrutinize ambitious expansion plans and profit models more closely. On Tuesday, the shares of the company based in Seoul, Neocloud, plummeted by 32% on their first trading day, despite the initial public offering price being at the upper end of the market range. On Wednesday, the stock rebounded by about 30%.
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Source:CNBC
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