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.
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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.
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 conti