Shanghai Enflame Technology Co., backed by Tencent Holdings, raised approximately 6.12 billion yuan ($911 million) in its Shanghai IPO on September 11, 2026, positioning itself as a major challenger to Nvidia in artificial intelligence chips. The stock surged 188% on its first day of trading as investors showed strong appetite for AI semiconductor alternatives.
On September 2, 2026, Shanghai Enflame Technology's initial public offering, backed by Tencent Holdings, drew exceptional demand from retail investors with subscription rates ranging from 4,073 to 6,109 times the available shares.
Tencent-backed Shanghai Enflame Technology Co. is seeking to raise approximately 6.12 billion yuan ($911 million) in an initial public offering on Shanghai's Star Market as of September 2, 2026. The IPO tests investor appetite for Chinese artificial intelligence chip manufacturers.