South Korean data centre Elice IPO slumps 30% as AI investment jitters persist, Brent crude tops $111

South Korean data centre company Elice debuted on the KOSPI on Tuesday, closing 30% below its offer price at 60,500 won ($45.57) despite retail demand oversubscribed more than 400 times. The weak debut, which valued the firm at roughly $755 million, added to nervousness surrounding AI infrastructure investments as investors questioned returns. The slump coincided with a nearly 4% drop in the KOSPI and a 3% fall in U.S. pre-market trading for AI neocloud provider CoreWeave. Meanwhile, Brent crude futures surged to $111 a barrel, their highest level since May, amid persistent Middle Eastern supply concerns.