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Real Test for China’s ‘Four Little GPU Tigers’ Has yet to Come

The Wall Street JournalView source article

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Enflame Technology surges 180% in Shanghai debut, minting two billionaires

Shanghai Enflame Technology shares more than doubled on their trading debut after raising $911 million in an IPO, creating two new billionaires and continuing China's AI chip IPO boom despite the company never turning a profit.

Sep 11, 2026·4 sourcesAI startupsCompute, chips & AI infrastructureChina tech & industrial strategyIPO marketSemiconductor manufacturing
Enflame Technology surges 180% in Shanghai debut, minting two billionaires
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Other sources for this story

Bloomberg

Chinese Chipmakers Become Billionaires Without Turning a Profit

Bloomberg

Enflame Raises $911 Million in Shanghai IPO Backed by Tencent

Forbes

Chinese AI Chipmaker Enflame Mints Two Billionaires As Stock Surges 180% In Shanghai Debut