Shares of fintech firm One MobiKwik Systems surged by 18.5% to Rs 524 on BSE on Wednesday, after listing at a strong premium of 58.5% at Rs 442.25. On the NSE, the shares were listed at Rs 440, reflecting a 57.7% premium over the issue price of Rs 279.
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Analysts soon began sounding the alarm over the massive AI spending and rising debt of the tech giants, questioning if they will actually bear fruit