# Tencent-backed Enflame closes 179% above IPO price in Shanghai debut

_Published Friday, September 11, 2026 at 6:06 PM EDT · AI, Capital · Latest · Tier 2 — Notable_

![Tencent-backed Enflame closes 179% above IPO price in Shanghai debut — Primary](https://media.thenextweb.com/2026/09/tencent-headquarters-building-sign.jpg)

Shares in Shanghai Enflame Technology closed 179% above their offer price on their first day of trading on Shanghai's Star Market on Friday, according to The Next Web.

The Tencent-backed AI chipmaker raised about 6.12bn yuan ($911m) in its initial public offering, Bloomberg reported. The stock opened at 410 yuan against an IPO price of 142.18 yuan and closed at 397 yuan, giving Enflame a market value of 170.9bn yuan ($25.5bn), the South China Morning Post reported.

Retail investors bid for 4,073 times the shares available to them, per the company's exchange filing. Enflame has never turned a profit and Tencent accounted for 84% of its 2025 revenue.

## Sources

- [The Next Web](https://thenextweb.com/news/enflame-shanghai-ipo-debut-tencent-ai-chips)
- [Techmeme](https://www.techmeme.com/260911/p1#a260911p1)

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Canonical: https://techandbusiness.org/newswire/V8Fec6dRl7C0_Ld7OvQr8u
Published: 2026-09-11T22:06:34.210Z
Story chronology: 2026-09-11T13:58:53.000Z
Retrieved: 2026-10-27T16:53:23.885Z
Publisher: Tech & Business (techandbusiness.org)