Korean AI Cloud Firm Elice Sinks 30%+ in KOSDAQ’s Biggest IPO of 2026
Elice Group raised 201 billion gained ($151 million) in the KOSDAQ’s greatest preliminary public providing (IPO) this yr. Its shares then sank over 30% under the IPO worth on Tuesday, their first day of buying and selling.
The slide got here weeks earlier than Anthropic, the corporate behind the Claude AI fashions, plans to go public in November.
Korean AI Cloud Firm Elice Plunges 30% in Its KOSDAQ Debut
Analysts famous that Elice set its IPO worth on October 6, earlier than the latest selloff in AI shares. According to a submitting, establishments had ordered 388 occasions the shares on provide.
Its numbers had improved earlier than the itemizing. First-half income tripled to 34 billion gained, and Elice swung to a ten billion gained working revenue.
Those outcomes didn’t protect the inventory from a broader retreat in AI sentiment. The KOSPI has fallen over 21% in the previous month. The index dropped 3.5% the same morning, slicing its 2026 achieve to 31%.
Elice’s inventory fell as a lot as 32% to 61,400 gained in early buying and selling, in keeping with Bloomberg. Part of that unease is about demand itself.
Kiwoom Securities analyst Kim Hak-joon informed Reuters that nobody is aware of how giant AI demand will turn out to be. He added that even in the present day’s demand is tough to estimate.
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This Summer’s AI Debuts Went the Other Way
That warning contrasts with China’s AI-linked listings a couple of months in the past. Memory chipmaker CXMT rose about 470% in its Shanghai debut on July 27, after elevating $8.6 billion.
Robot maker Unitree opened 629% above its IPO worth on August 19.
The selloff has since reached these winners. CXMT shares fell 6.5% on Monday because the US chip rout unfold to Asia. It is now down 18% since its debut.
What Elice’s Slide Means for Anthropic’s November IPO
Ke Yan, head of analysis at Singapore-based Shenton Research, framed the shift round these paying purchasers.
“Elice’s debut reveals the AI infrastructure commerce has moved from ‘construct at any price’ to ‘who’s paying and for a way lengthy’,” he stated. “Until the AI labs that lease … capability present they will fund their compute commitments, new listings throughout the area will possible be priced in that danger premium.”
Anthropic is among the many largest AI labs getting ready to listing. It has dedicated at the least $518 billion to cloud and computing capacity over a decade.
Its valuation speak has already slipped. Some traders at its October 14 investor day discussed $1.5 trillion. Earlier expectations sat close to $2 trillion, earlier than third-quarter income development slowed to 45%.
A weak debut may attain past Anthropic. A cool reception may stress the broader AI market, the place OpenAI is predicted to listing subsequent yr.
Several well-known traders have already raised bubble warnings this month. Paul Tudor Jones warned of a difficult 2027 for US shares. He pointed to the wave of new shares coming from main AI corporations.
Michael Burry has aimed his warning at Anthropic immediately. He referred to as its valuation a bubble, noting it may purchase 78 S&P 500 corporations. Ray Dalio has additionally stated the AI bubble is near bursting.
Anthropic’s November pricing will present whether or not Ke Yan’s danger premium reaches the labs shopping for compute.
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