Artificial intelligence (AI) technology company Nota saw its share price jump more than 240% from the offering price on its first day of listing, and on the 4th, the second day, it is also showing a gain in the 20% range.
Nota shares traded at 37,900 won on the KOSDAQ market at 9:25 a.m. on the day. The price rose 22.26% (6,900 won) from the previous day. With the share price more than quadrupling from the offering price of 9,100 won, the market capitalization swelled to about 780 billion won.
Nota is an AI technology company founded in 2015 by a KAIST research team. Based on model lightweighting and optimization technologies, it focuses on building environments where AI operates efficiently from the cloud to on-device (performing AI computation directly on the device).
However, Nota is a technology special-case listing company; while its technological prowess and growth potential are high, it has not yet turned profitable. Park Jong-seon, a researcher at Eugene Investment & Securities, said, "Because a virtuous cycle between the platform and individual solutions is well established, Nota's revenue growth will remain stable."