South Korea's stock market sends another warning signal about AI-related trading
The debut of cloud company Elice ended with a drop in shares, despite investor bids exceeding the available volume by approximately 400 times
The Kospi index closed trading down by 4%. The largest-weighted stocks, Samsung Electronics and SK Hynix, also declined in value. South Korean chip manufacturers supply memory for AI systems, so their shares are tracked as an indicator of interest in this market.
Elice shares lost 32% on their first day of trading and closed at 61,500 won. The offering price was 90,500 won. The company leases computing power for AI tasks.
Similar pressure is being felt in the AI infrastructure market outside South Korea. CoreWeave's stocks and bonds fell amid concerns over business expansion through debt, while Nvidia-backed Firmus withdrew its plans to conduct an IPO in Australia, citing unstable market conditions.
