The recent debut of South Korean data center firm Elice has sent shockwaves throughout the market, as shares tumbled significantly in its IPO, plunging 32% on debut. This decline comes amidst a broader selloff in AI stocks, raising fresh concerns over the sustainability of the AI boom. Investors are reassessing the prospects of the AI sector following the disappointing performance of Elice, which, despite attracting heavy demand with a 400-fold subscription, still faced a dramatic drop in value. The situation highlights growing skepticism around AI investments, particularly in light of a series of IPO flops affecting global sentiment. The ongoing turbulence in the stock market is drawing attention to the potential risks entailed in the current AI trade, as companies struggle to maintain valuation amid shifting investor confidence.