AI Data Center Beneficiaries: Stock Prices Plummet, 8 Trillion Won Lost in Just One Day

On June 2, shares of Nasdaq‐listed server and cloud beneficiary Flex Ltd. (FLEX) plunged 11.74%, closing at $135.50—roughly ₩208,000—bringing its market capitalization down to about $49.6 billion (approximately ₩76 trillion). In a single day, Flex erased around $5.2 billion in value (about ₩8 trillion), with trading volume exceeding 4.78 million shares, underscoring increased volatility following its recent surge.

In early May, Flex reported record fourth-quarter and fiscal 2026 results, raised its full-year guidance and unveiled plans to spin off and list its high-growth cloud and power-infrastructure businesses. That announcement sent the stock up more than 30% in one day, cementing its status as an AI and data-center play.

At the end of April, Flex entered into a $1.45 billion (about ₩2.2 trillion) senior term loan facility arranged by Citibank to refinance its existing 364-day loan and fund general corporate purposes, including the acquisition of power-equipment maker EP².

Legally headquartered in Singapore with its operational hub in Austin, Texas, Flex is a global electronics contract manufacturer and supply-chain solutions provider. It offers integrated design, manufacturing, logistics and after-sales services to customers in the data-center, communications, automotive, healthcare and industrial-equipment sectors.

Founded in 1969 as Flextronics and rebranded Flex in 2016, the company—under CEO Revathi Advaithi, who took the helm in 2019—has increased the share of its high-margin power and infrastructure and AI data-center businesses, and has pursued portfolio reshaping through spin-offs such as Nextracker and its cloud and power-infrastructure units.