Enflame jumps 188% on debut as ‘GPU quartet’ reaches capital markets
With Enflame’s listing, all four have now entered China’s capital markets, marking a new phase for the country’s homegrown AI-chip industry.
With Enflame’s listing, all four have now entered China’s capital markets, marking a new phase for the country’s homegrown AI-chip industry.

Founded in 2018, Enflame develops cloud AI chips and has built four generations of architectures and five AI accelerators.

China’s deep-tech sector saw another wave of major funding, with AI chips and semiconductor equipment leading the charge.

It may be weakening the very logic that has allowed Nvidia to maintain extraordinary margins for years: customers have no alternative.

Enflame’s IPO approval marks another milestone in China’s bid to build a self-sufficient AI semiconductor industry amid tightening US export controls.

Behind the milestone is a financial profile defined by strong growth and sustained losses.

DeepSeek also rebuffed Nvidia’s request for early access to V4, providing exclusive access instead to Huawei and select Chinese chip manufacturers.