Chinese Nvidia challenger Enflame jumps 179% in market debut

Tencent-backed Chinese AI-chip maker Shanghai Enflame Technology rose 179% on the first day of its trading on Shanghai STAR Market. The company, considered China's answer to Nvidia, had earlier raised 6.12 billion yuan (₹8,721 crore) in its IPO. Enflame has yet to turn a profit, with its revenue rising 37% to 990.2 million yuan (over ₹1,411 crore) last year.