Shanghai Enflame Technology Co. received approval for an initial public offering on the Shanghai STAR Market. The Tencent-backed AI chip designer plans to raise approximately 6 billion yuan or $888 million.
The company develops data center GPUs as domestic alternatives to Nvidia hardware. This listing represents the final public debut among China’s four leading AI chip startups.
Tencent remains a major shareholder following multiple funding rounds. The IPO supports China’s drive for technological independence amid tightening U.S. restrictions on advanced chip exports.