Until this week, few on Wall Street had heard of Elice, a small Korean artificial intelligence (AI) neocloud company. Then its shares plunged 32 percent in their Kosdaq debut despite strong institutional investor interest, only to surge nearly 30 percent the following day. Elice's turbulent debut drew an unusual level of attention from international media outlets, including Bloomberg, Reuters, CNBC and Barron's, as it raised a multibillion-dollar question: Will the massive sums pouring into AI infrastructure ever pay off? "Its record first-day decline indicated growing investor skepticism toward neoclouds, a fast-growing corner of the AI industry," Bloomberg wrote. "Wednesday's sharp rebound also highlights how fickle market sentiment remains, as strong sector earnings continue to validate growth." When trading began on Tuesday, foreign and institutional investors were quick to sell, offloading a net 9.05 billion won ($6.84 million) and 35.36 billion won worth of shares, respectively. Elice's disappointing debut came amid a sharp deterioration in investor sentiment toward AI infrastructu