Gate News message, April 15 — Elice Group, a South Korean AI infrastructure company, announced plans to pursue an initial public offering (IPO) this year to raise capital for building next-generation AI portable modular data centers (PMDC). CEO Kim Jae-won stated at a press conference today that the company needs to secure funding within the year to complete PMDC construction, adding that they are preparing to raise funds through public listing.
Elice Group’s revenue last year reached approximately 40 billion KRW (around $30 million USD), with education services accounting for 30-40% of total sales. The company recently entered a bid for the government’s 2 trillion KRW ($1.5 billion USD) GPU procurement project. This year, cloud revenue is expected to surpass education revenue as the company expands from its AI-based education platform into cloud infrastructure.
The company completed development of a PMDC supporting next-generation Vera Rubin NVL72 GPUs, which require 230kW per rack. Elice also introduced GPU Spot pricing, the first among domestic cloud service providers, offering up to 50% cost savings compared to on-demand rates across B200, H100, and A100 GPU lineups. The company plans to enhance its AI education solutions with integrated vision capabilities and enterprise-focused AI transformation training.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Starbucks Launches ChatGPT Integration for AI-Powered Beverage Recommendations
Starbucks has introduced a beta app within ChatGPT for personalized drink recommendations based on users' moods and preferences. This initiative, part of CEO Brian Niccol's transformation plan, aims to enhance the in-store experience while integrating AI technology.
GateNews31m ago
CATL Q1 Net Profit Rises 49% to 21.7B CNY, Management Highlights Strong April-May Orders
UBS's report highlights CATL's strong Q1 performance with a 49% profit increase year-over-year, despite a quarterly decline. High demand is expected to sustain capacity, though Q2 margins may drop due to rising costs. UBS maintains a "Buy" rating with a price target of 500 CNY.
GateNews38m ago
Amazon Sellers Launch 24-Hour Ad Boycott Over New Payment Policies and Fuel Surcharge
Amazon sellers are protesting new policies that reduce profit margins, including a fuel surcharge and delayed payments. The Million Dollar Sellers community, representing $14 billion in revenue, fears cash flow issues that threaten their businesses.
GateNews41m ago
Allbirds Stock Soars 582% After Announcing AI Pivot, $50M Funding Round
Allbirds announced a transformation to become NewBird AI, securing $50 million in convertible financing to focus on AI computing infrastructure. This decision follows declining sales and a brand sale. Stock surged 582%, but concerns about market competition and valuation bubbles persist.
GateNews52m ago
