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Tencent-Backed AI Chipmaker Enflame Surges Nearly 180% in Shanghai Market Debut

Enflame Technology, an AI chipmaker supported by Tencent, saw its shares close 179% above the IPO price on the first day of trading on Shanghai’s Star Market. The company raised approximately 6.12 billion yuan ($911 million) during its initial public offering. Shares opened at 410 yuan, significantly higher than the initial offering price of 142.18 yuan.

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