Stocks
Tencent-Backed Enflame Soars 188% in Shanghai Debut
Enflame Technology, a Chinese company backed by Tencent and considered China's answer to Nvidia, made its debut on Shanghai's bourse on Friday. The tech firm saw its shares surge 188% in value following its IPO, raising $910 million.
The rise was attributed to Enflame flagging a lower valuation relative to its peers, which may have attracted investors looking for undervalued opportunities.
Enflame's products were showcased at the World Artificial Intelligence Conference (WAIC) in Shanghai in July 2026. The company's technology is focused on artificial intelligence chips.