Friday, 11 September, 2026
"Tencent-Backed Enflame Soars 188% in $912 Million Shanghai Trading Debut"
By TechShots Studio
Chinese AI chipmaker Shanghai Enflame Technology opened up 188% in its Shanghai STAR Market debut following a 6.12 billion yuan ($912 million) initial public offering. The Tencent-backed startup, valued at roughly $9.12 billion, is benefiting from surging demand for domestic AI hardware, even as Tencent remains both its largest shareholder and its primary revenue source.
Read full story at REUTERS