South Korean neocloud provider Elice Inc.’s shares continued their rally on Thursday, climbing as much as 25% to 99,900 won — surpassing the IPO price of 90,500 won for the first time since its debut. The stock closed 30% higher on Wednesday, hitting the daily limit. The surge reflects sustained investor confidence in AI infrastructure growth.
Elice, a cloud computing firm focused on AI workloads, has become a bellwether for the sector’s momentum in Asia. Traders cite strong demand for GPU-powered cloud services as the primary driver. The performance contrasts with broader market volatility, highlighting niche AI plays as a standout area.
Analysts caution that rapid gains may signal speculative excess, though fundamentals remain robust. Elice’s valuation now trades at a premium to peers, underscoring the premium placed on scalable AI compute capacity. The company plans to expand data center capacity in the coming quarters to meet rising demand.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing