Chinese AI Chipmaker Enflame Aims to Raise $908 Million After Setting Shanghai IPO Price
The unprofitable chipmaker will fund fifth- and sixth-generation AI chip production and software projects as it seeks to challenge Nvidia.
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Chinese AI chipmaker Enflame aims to raise $908 million after setting ...
China's ‘fourth little AI dragon’ goes public: Tencent-backed Shanghai Enflame looks to raise $911 million in IPO
Tencent owns a 20% stake in Enflame and is also a major customer. The company has priced its offering on Shanghai’s technology-focused STAR Market at 142.18 yuan per share.
The Economic Times
Times of IndiaChinese AI chipmaker Enflame aims to raise $908 million after setting Shanghai IPO price
Enflame Technology, a prominent Chinese AI chip manufacturer, is set to raise over $900 million through its IPO in Shanghai. This initiative aligns with China's ambition for technological independence following US export restrictions on chips. The firm intends to confront Nvidia's stronghold in the AI chip sector, channeling the raised capital into sophisticated chip development and software initiatives. Investor pre-subscriptions for the IPO ar…
Shanghai Enflame Technology prepares an OPI of $911 million in the STAR Market, while investors evaluate their losses, their dependence on Tencent and the challenge of competing in the Chinese race for AI chips.
Shanghai Enflame Technology seeks $911M IPO backed by Tencent
Enflame's IPO highlights China's push for semiconductor self-reliance amid global tech tensions, but reliance on Tencent poses financial risks. The post Shanghai Enflame Technology seeks $911M IPO backed by Tencent appeared first on Crypto Briefing.
Shanghai Enflame Technology plans to raise about 6.12 billion yuan, or $911 million, in its IPO on Shanghai's Star Market, Bloomberg reports.
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