#elice韩股上市首日暴跌33%
【Old Leek Watch】Korean AI infrastructure company Elice plunges 33% on first day of listing, putting AI computing valuations to the test
Korean AI infrastructure company Elice listed on KOSDAQ on October 20. Its share price fell as low as 61,000 won during trading, down about 33% from its offering price of 90,500 won. The IPO raised about 2.01 trillion won? No—the correct figure is 201.1 billion won (about $151 million). Even with retail subscriptions oversubscribed by about 408 times, the stock still suffered a steep drop on its first day of trading.
First, strong demand for AI computing does not mean infrastructure companies are fairly valued.
Elice’s business spans AI cloud services, GPU infrastructure, and data center construction. Its break below the offering price reflects investors’ growing caution in assessing the capital expenditures, financing costs, and long-term profitability of AI infrastructure. In the AI computing industry, market attention is shifting from the pace of expansion to actual returns.
Second, keep an eye on decentralized computing in the crypto market.
$RNDR (Render), $AKT
(Akash Network), and $IO
(io.net) are all connected to GPU computing supply or distributed computing, but their business models and token mechanisms differ.
If traditional AI infrastructure continues to face pressures such as heavy investment requirements and long payback periods, the cost advantages of decentralized computing may attract more discussion. However, attention to a narrative does not guarantee that its tokens will benefit. What really matters is whether a network can attract sustained demand for computing power, paying users, and actual revenue.
【Old Leek Watch】Korean AI infrastructure company Elice plunges 33% on first day of listing, putting AI computing valuations to the test
Korean AI infrastructure company Elice listed on KOSDAQ on October 20. Its share price fell as low as 61,000 won during trading, down about 33% from its offering price of 90,500 won. The IPO raised about 2.01 trillion won? No—the correct figure is 201.1 billion won (about $151 million). Even with retail subscriptions oversubscribed by about 408 times, the stock still suffered a steep drop on its first day of trading.
First, strong demand for AI computing does not mean infrastructure companies are fairly valued.
Elice’s business spans AI cloud services, GPU infrastructure, and data center construction. Its break below the offering price reflects investors’ growing caution in assessing the capital expenditures, financing costs, and long-term profitability of AI infrastructure. In the AI computing industry, market attention is shifting from the pace of expansion to actual returns.
Second, keep an eye on decentralized computing in the crypto market.
$RNDR (Render), $AKT
(Akash Network), and $IO
(io.net) are all connected to GPU computing supply or distributed computing, but their business models and token mechanisms differ.
If traditional AI infrastructure continues to face pressures such as heavy investment requirements and long payback periods, the cost advantages of decentralized computing may attract more discussion. However, attention to a narrative does not guarantee that its tokens will benefit. What really matters is whether a network can attract sustained demand for computing power, paying users, and actual revenue.