IPO: Chinese Nvidia challenger Enflame jumps 179% in Shanghai market debut

Tencent-backed 'little dragon' raises $910m; tech stocks' post-IPO slumps draw scrutiny

11. September 2026 um 18:00 Uhr / Von Loretta Chen und Wataru Suzuki, Nikkei Asia

A visitor walks past the booth of Enflame during the World Artificial Intelligence Conference (WAIC) in Shanghai on July 6, 2023. Bild: Wang Zhao/AFP via Getty Images

HONG KONG/SHANGHAI -- Shanghai Enflame Technology, one of China's leading makers of artificial intelligence chips and the country's answer to Nvidia, rose 179% in its first day of trading on Shanghai's bourse on Friday, after the company flagged a lower valuation relative to peers.

Enflame raised 6.12 billion yuan ($910 million) through the initial public offering and sold its shares at 142.18 yuan apiece. The shares closed at 397 yuan, giving the company a market value of about 170.8 billion yuan.