Elice shares fall 30% on debut, pressuring data-center stocks
Original title: Data center stocks slide as Korea IPO plunges 30%, pressuring tech sentiment
HSBC rates CoreWeave reduce with a $39 target, while Gartner says 80% of neoclouds may not stay independent by 2030.
South Korean cloud company Elice dropped 30% in its debut after an IPO that raised $150 million and valued it near $1.3 billion. The slide hit U.S. AI-compute names: CoreWeave, Nebius and Iren fell early, with some later recovering. HSBC pointed to debt-market stress and slower revenue at model labs. Gartner said planned AI capital spending from 2027 to 2030 may not earn profitable returns and expects many AI markets to consolidate.
Unconfirmed: OpenAI and Anthropic revenue figures are attributed to analyst notes, not company filings in this report.
- CoreWeave was up 1.6% after an early 4% drop; Iren was down about 4%.
- A Wolfe note said OpenAI revenue was $20 billion below analyst expectations.
- Anthropic quarterly sales growth was said to slow from 140% to 45%.
- Gartner said available compute currently exceeds demand for AI processing.
- Countries
- South Korea
From the original article
2 min read at cnbc.com
Data center stocks are being squeezed on Tuesday following a lackluster initial public offering overnight from a South Korean cloud company that has been compared to U. S. neocloud CoreWeave.
By PLenz · cnbc.com
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