South Korean IPO Slumps 30% as CoreWeave Falls Again

TLDR Elice shares plunged over 30% on their South Korean IPO debut despite strong demand from retail investors. The company raised $151 million through its IPO as concerns grew over AI infrastructure spending. CoreWeave stock fell 3% in premarket trading amid rising debt and financing concerns. South Korea’s KOSPI dropped nearly 4%, with Samsung Electronics and SK Hynix recording losses. Brent crude climbed above $111 per barrel as Middle Eastern supply disruptions added pressure to global markets. A South Korean IPO delivered a setback for artificial intelligence investors on Tuesday. Elice Group’s weak market debut came as technology stocks fell and questions grew over data center financing.

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