- Chinese artificial intelligence chipmaker Enflame Technology surged over 223 % in its Shanghai debut after raising 6.12 billion yuan through an initial public offering.
- The Tencent-backed company plans to use the IPO proceeds to develop advanced fifth- and sixth-generation AI chips aimed at competing with international rivals.
- Investors are heavily betting on domestic chipmakers to capture market share amid U.S. export controls that restrict Nvidia's access to China's data center compute market.
