Tencent-backed AI chipmaker Enflame plans to raise $892.2M via a 43.04M share offering on Shanghai’s STAR Market.
Enflame Technology, a Shanghai-based AI chipmaker backed by Tencent, will launch its initial public offering on Shanghai’s STAR Market on September 2. The company aims to raise approximately $892.2M by issuing 43.04M new shares, which will represent 10% of its expanded share capital.
The IPO follows growing investor interest in AI-related semiconductor firms, particularly in China’s tech sector. Enflame’s fundraising target aligns with recent high-profile listings in the STAR Market, though prior valuations for AI chipmakers have varied widely.
No immediate market reaction details were provided in the announcement.