Tencent-backed Enflame triples on Shanghai IPO debut amid China AI chip surge

On the Shanghai Stock Exchange, Enflame — an AI chip maker carrying the weight of Tencent's backing and China's broader technological ambitions — tripled in value on its first day of trading, a moment that speaks less to a single company's fortunes than to a nation's collective wager on its own technological sovereignty. The debut arrives at a time when semiconductors have become a geopolitical currency, and China's appetite for homegrown computing power has never been more urgent or more visible. In the arc of history, this listing may be remembered as one small but telling marker in the long