Tencent-backed Enflame surges 188% in Shanghai debut after $912 million IPO
On September 11, artificial intelligence chipmaker Shanghai Enflame Technology saw its stock price surge 188% during its debut on the Shanghai market. This marked an impressive rise from an initial offering price of 142.18 yuan to a peak of 475 yuan. The company raised a total of 6.12 billion yuan ($912 million) through its initial public offering.
Enflame's successful IPO follows a trend of Chinese firms looking to produce AI computing chips as a response to U.S. suppliers like Nvidia. Enflame is part of a group of AI chip startups dubbed the "four little GPU dragons" that includes Moore Threads, MetaX, and Biren Technology.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Tencent-backed Enflame to open up 188% in Shanghai debut after $912 million IPO channelnewsasia.com
- Chinese Nvidia challenger Enflame jumps 179% in Shanghai market debut asia.nikkei.com
