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Tencent bought 84 percent of Enflame's 2025 revenue before Friday's Shanghai debut
The AI chipmaker's shares closed 179 percent above the offer price on Shanghai's Star Market, and the revenue behind that valuation came almost entirely from Tencent, which owns 20 percent of the company and buys most of its chips.
Reality
- Evidence62
- Adoption33
- Hype gap+50
- Incentives74
- Confidence60