A data centre provider has plunged more than 30pc on its stock market debut, fuelling fears of an AI slowdown. South Korea's Elice Group, which provides data centre capacity to thousands of tech customers, suffered the shares flop when it started trading on the country's tech-focused Kosdaq index on Tuesday. Shares fell by as much as 38pc before closing down at 63,600 won (£35.90), having been floated at 90,500 won. The slide cast a shadow over South Korea's benchmark index, the Kospi, which closed down 4.2pc overnight. Some of the world's largest AI companies including Samsung and SK Hynix are listed on the index. Elice's embarrassing stock market debut highlights growing fears about the value of AI companies.
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