Shares of Chinese SI chip developer Enflame jump 179% on their first day of trading
Prepared by Sintelligent with the help of SI. Publication time restored from the build log. . Updated: .
China is quickly growing its own SI chip industry, and investors believe in it; Nvidia's monopoly on SI hardware is gradually eroding.
Enflame, whose largest shareholder and customer is Tencent, raised $912 million in an IPO in Shanghai; after the shares soared 179%, the company is worth about $25.5 billion. The retail tranche was oversubscribed 6,109 times. Its flagship is the L600 chip with 114 GB of HBM3 memory; Enflame became the fourth Chinese SI chip developer to list in a year, after Biren, MetaX and Moore Threads.
Sources 1