Enflame Soars 206% in Shanghai Debut as Retail Demand Skyrockets

Nvidia rival Enflame has made its debut on the Shanghai stock market, rising 206% in value. The company, backed by Tencent and one of China's 'four little dragons' of AI chipmaking, reported revenue of 990 million yuan ($147 million) for 2025.

Retail demand for Enflame's shares was extremely high, with orders exceeding 6,000 times the number of shares available. The company had to increase the stock on offer to meet this demand.

This marks the last of China's four AI chipmakers to list, following MetaX, Moore Threads, and Biren, which rose nearly 700%, over 400%, and 76% respectively on their debuts. All three have held above their listing price.