Enflame Technology surged 206% in its Shanghai trading debut Friday, as investors rushed into another domestic alternative to Nvidia. Retail demand exceeded the available shares by more than 6,000 times. The company reported 2025 revenue of 990 million yuan, or about $147 million, up from 722 million yuan a year earlier, and has yet to turn a profit. Enflame intends to use the proceeds to develop fifth- and sixth-generation chips to compete with high-end international products. Chinese chip suppliers have seen demand soar, helped by U.S. export restrictions and Beijing's drive for semiconductor self-sufficiency, with Goldman Sachs estimating semiconductor capex in China will rise to $82 billion by 2030.
NVIDIA CorporationEnflame's 206% debut as another domestic Nvidia alternative, aided by US export restrictions, signals rising Chinese competition against Nvidia's high-end chips.
Goldman Sachs Group Inc