Chinese Nvidia rival Enflame soars 206% on stock market debut as AI demand stays hot
Retail investors bid 4,000 times the shares available as Enflame raised 6.12 billion yuan to fund next-generation AI chips.
- On Friday, Shanghai Enflame Technology Co. debuted on the STAR Market with shares soaring 206%, after the Tencent-backed company raised 6.12 billion yuan in its initial public offering.
- As the last of the so-called "four little dragons" of Chinese AI chipmakers to go public, Enflame joins peers like Biren Technology and MetaX, reflecting investor confidence in domestic alternatives to Nvidia.
- Huge retail demand drove orders for over 6,000 times the shares available, with the company selling about 43 million shares at 142.18 yuan each, though revenue reached 990 million yuan in 2025 with no profit yet.
- International chipmakers led by Nvidia accounted for nearly 60% of China's AI accelerator market in 2025, prompting Beijing to accelerate domestic chip development as U.S. export controls restrict advanced technology access.
- Enflame plans to use IPO proceeds to develop and commercialize fifth- and sixth-generation AI chips as China's semiconductor capital spending is expected to reach $82 billion by 2030, driven by AI demand.
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Enflame IPO: Tencent-backed chipmaker nearly triples
Shares in Shanghai Enflame Technology closed 179% above their offer price on their first day of trading on Shanghai’s Star Market on Friday. The Tencent-backed AI chipmaker had raised about 6.12bn yuan ($911m) in its initial public offering, Bloomberg reported. The stock opened at 410 yuan, against an IPO price of 142.18 yuan. It rose […] This story continues at The Next Web
Suiyuan Technology (Enflame), considered one of China's "Four Dragons of GPUs," saw its stock price surge 179% on its first day of trading. According to Chinese portal Baidu and others on the 11th, Enflame's stock price soared to 475 yuan in early trading on its first day of listing on the STAR Market (a market dedicated to technology stocks), a 234% increase from its initial public offering (IPO) price of 142.18 yuan. After giving back some of …
The shares ended the session at 397 yuan (50.97 euros), compared to the unit price of 142.18 yuan (18.25 euros) fixed by the company for the sale of just over 43 million securities, which allowed to capture approximately 6,120 million yuan (786 million euros).
(Shanghai=Yonhap News) Correspondent Cha Byeong-seop = Suiyuan Technology (nFlame...), known as one of the 'Four Little Dragons' of China's graphics processing unit (GPU) manufacturing industry
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