South Korean data center company Elice plunged 32% on its Kosdaq debut. The company, which describes itself as a "new type of computing power cloud" and is already profitable, priced its IPO at the top end of its range at 90,500 Korean won, raising 201 billion won (approximately $151 million). Its market capitalization shortly after listing was just over 1 trillion won, making it the largest IPO on Kosdaq this year. After opening, the stock price briefly surged to around 78,000 won but then quickly plummeted, hitting a low of 61,400 won, down 32% from its IPO price, wiping out about 300 billion won in market value in less than half an hour. This drop below the IPO price further solidified market concerns about systemic doubts regarding the AI data center sector. Goldman Sachs analysts noted that the market is discovering that computing power demand can grow exponentially, but available capital cannot expand in sync.