Chinese AI chipmaker Enflame nearly tripled in value in its stock market debut Friday, extending a run of strong listings for semiconductor companies benefiting from Beijing's effort to build domestic alternatives to Nvidia.
Shares of Shanghai Enflame Technology opened at 410 yuan on Shanghai's STAR Market, 188% above their initial public offering price of 142.18 yuan. The stock reached 475 yuan during the session before closing at 397 yuan, a gain of 179% that valued the company at roughly 171 billion yuan, or about $25.5 billion.
