China's AI chip IPO boom rolls on as another Nvidia challenger soars 200% in market debut

Shanghai Enflame Technology, a Chinese AI chipmaker backed by Tencent, surged about 200% in its debut on Shanghai's Star market after raising 6.12 billion yuan ($913 million). The company develops AI chips for training and inference and is part of a new wave of domestic chipmakers benefiting from Beijing's push for semiconductor self-sufficiency amid US export restrictions. Enflame grew revenue 37% last year but remains loss-making and heavily reliant on Tencent. The successful IPO reflects surging investor demand for Chinese AI chip firms as Nvidia alternatives.

Read More