Data center stocks fall early on Oct. 20 after Korea's Elice drops 30% in debut, then some recover
Shares of South Korean AI cloud firm Elice Group fell about 30% in their market debut, a deal investors read as a signal on appetite for AI computing providers amid worries about overcapacity. U.S. neocloud and data center stocks fell at the open on Tuesday before some recovered; CoreWeave dropped 4% early and then traded up about 1.6% in late morning. HSBC reiterated a reduce rating on CoreWeave, citing debt-market strain and slowing AI model revenue.
- Elice Group down about 30% on debut after a roughly $150M IPO
- CoreWeave -4% after the open, then +1.6% in late morning
- HSBC: reduce on CoreWeave, $39 target
CRWV around the story · hourlySince the story ▲ 3.99%
Moves this explains
CRWV+5.91%Oct 19 · Rose 5.8% after a weak start: CoreWeave fell 4% at the open when Korean AI cloud firm Elice slid about 30% in its debut, then turned higher during the session and added more after the close alongside Super Micro's sharply raised revenue estimate. HSBC repeated its reduce rating the same day, citing debt-market strain.NBIS+6.03%Oct 19 · Rose 6.4% after an early drop: neocloud stocks fell at the open when Korean AI cloud firm Elice slid about 30% in its debut, then recovered during the session and added more after the close alongside Super Micro's sharply raised revenue estimate. No Nebius-specific news was reported.Source
CNBCOct 20, 2026