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 shares soar 188% on Shanghai debut as Nvidia challenger taps AI fever
Enflame Technology, one of the major challengers to Nvidia in China, saw its share price surge 188 per cent in its Shanghai trading debut on Friday, giving the Tencent Holdings-backed artificial intelligence chipmaker a market capitalisation of 176.4 billion yuan (US$26.3 million). The Shanghai-based company opened at 410 yuan, up from its issue price of 142.18 yuan. The performance reflects continued investor appetite for domestic AI chip champ…
Channel News Asia
Tencent-backed Enflame surges 188% in Shanghai debut after $912 million IPO
HONG KONG/SHANGHAI, Sept 11 : Chinese artificial intelligence chipmaker Shanghai Enflame Technology opened 188 per cent higher in its Shanghai debut on Friday, after the Tencent-backed company raised 6.12 billion yuan ($912 million) in its initial public offering.The stock opened at 410 yuan versus its offer
Tencent-Backed Chipmaker Enflame to Debut After $911 Million IPO
Shanghai Enflame Technology Co., backed by Tencent Holdings Ltd., is set to begin trading in Shanghai Friday after raising about 6.12 billion yuan ($911m), as the last of the so-called “four little dragons” of leading Chinese artificial intelligence chipmakers enters the public market.
Tencent-backed AI chipmaker Enflame triples in Shanghai debut
Chinese artificial intelligence chipmaker Shanghai Enflame Technology surged about 200% in its Shanghai debut on Friday, after the Tencent-backed company raised 6.12 billion yuan ($912 million) in its initial public offering.
Tencent's $1.64 Billion Enflame Stake Faces a 4.16% Float Squeeze
This article first appeared on GuruFocus. Tencent Holdings (TCEHY), China's gaming, social-media and cloud powerhouse, fell 1.9% to $53.90 Thursday as investors awaited AI-chip developer Enflame's September 11 Shanghai debut. The listing will finally put a public-market price on one of Tencent's…
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