CRWV ▼ -4.3% - CoreWeave, Inc. South Korean AI data center operator Elice plunged 32% on its stock market debut, despite overwhelming IPO demand, as concerns over AI valuations and rising financing costs spread across Asian technology markets. * IPO collapse: Shares fell to ?61,500 from their ?90,500 offering price, despite raising $151 million in South Korea's largest Kosdaq IPO this year. * Investor demand: Retail subscriptions exceeded 400 times the shares available, attracting more than ?10 trillion in deposits before the sell-off. * Chip stocks: South Korea's Kospi fell 3.7%, with SK Hynix down 4.2% and Samsung Electronics down 3%. The index has lost roughly 20% in a month. * AI financing concerns: The decline follows Nvidia-backed Firmus abandoning its $5 billion Australian IPO and CoreWeave ($CRWV) losing more than half its value since May's peak. * Elice fundamentals: H1 revenue tripled to $25.9 million. The company plans to use IPO proceeds to expand its AI cloud and modular data center operations. 20-OCT-2026 08:35 AM ET