Enflame Technology, China’s leading AI chip manufacturer, conducted its initial public offering (IPO) on September 3, 2026, on the Shanghai STAR Market. This IPO was supported by Tencent Holdings, with a planned total fundraising of approximately 6.12 billion yuan (about 910.9 million US dollars). In the retail segment, approximately 7 million online investors submitted orders to subscribe, resulting in oversubscription by 4,073 times. The results of this IPO reflect investors’ growing demand for domestic alternatives to Nvidia chips in China.
Enflame Technology, a leading AI chip manufacturer in China, saw its retail portion of the IPO on the Shanghai Science and Technology Board oversubscribed by 4,073 times, triggering a surge in purchases. The chip company, supported by Tencent Holdings, raised a total of 6.12 billion yuan (about 9.109 billion US dollars), with approximately 7 million online investors placing orders to subscribe for 42.1 billion shares. The results of this IPO highlighted the growing demand from investors for domestic alternatives to Nvidia in China.