On October 21, shares of South Korean AI computing power service provider Elice Inc. surged significantly on Wednesday, recovering most of the losses incurred after a 32% plunge on its debut. Market sentiment improved amid positive earnings reports from U.S. tech companies. The company, which focuses on "next-generation cloud services," hit the 30% daily price increase limit on Seoul's KOSDAQ market, reaching KRW 79,900, though still below its IPO price of KRW 90,500. On the same day, South Korea's benchmark KOSPI index rose as much as 3.8% in early trading, while the KOSDAQ index gained 2.8%. Previously little-known outside South Korea, Elice aimed to capitalize on investor enthusiasm for AI through its IPO. However, its record-breaking debut-day decline reflected growing skepticism among investors toward "next-generation cloud services." The strong rebound in share price on Wednesday underscored the volatility of market sentiment.