Nvidia Challenger Enflame Jumped 188% in Its Shanghai Debut to a 176.4B Yuan Market Cap
South China Morning Post·medium signal
The Tencent-backed chipmaker opened at 410 yuan against a 142.18 yuan issue price after raising about 6.12B yuan ($910M). The retail tranche was oversubscribed 4,073 times, with about 7 million online investors bidding. Enflame is the last of China's "four little dragons" AI chip companies to list. The debut came the same week Chinese chipmakers raised card prices 20-50% because of HBM shortages.