Enflame IPO oversubscribed 4,073x in Shanghai, signaling AI chip demand

Enflame Technology's Shanghai Star Market IPO drew massive retail demand, with the retail tranche oversubscribed 4,073 times, reflecting strong investor appetite for domestic AI chip alternatives to Nvidia. The 6.12 billion yuan raise is a notable signal of China's push for semiconductor self-sufficiency amid US export controls. The extreme oversubscription suggests potential for significant first-day trading volatility and underscores market enthusiasm for AI-related equities in China.