Enflame Surges 179 Percent in Shanghai Debut
Chinese artificial intelligence chipmaker Shanghai Enflame Technology closed up 179 percent in its Shanghai debut on Friday after raising 6.12 billion yuan in an initial public offering. The Tencent backed company aims to supply home grown computing chips as Beijing pushes for domestic alternatives.
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Shanghai Enflame Technology closed up 179% in its Shanghai debut on Friday, raising 6.12 billion yuan ($912 million) in an IPO. The Tencent-backed AI chipmaker is capitalizing on rising demand as China pushes for domestic alternatives to Nvidia hardware. The listing highlights intense investor appetite for home-grown computing chips despite ongoing corporate losses.
