Tencent-Backed AI Chipmaker Enflame Secures Shanghai STAR IPO Approval, Targets About $888 Million
Shanghai Enflame Technology Co., a Tencent-backed AI chipmaker, has received approval for an initial public offering on Shanghai's STAR board and plans to raise about $888 million. The company is the last of China's four leading AI chipmakers to seek a public listing.
Enflame plans to use the proceeds for AI cloud chips and software. Tencent owns about 20% of the company and accounted for 84% of its 2025 revenue. Enflame's chips are used in data centers for chatbots, recommendation systems and generative AI.
From the sources (3 posts)
@businessShanghai Enflame Technology Co. has received approval for an IPO
@techmemeTencent-backed Enflame receives approval for a Shanghai IPO and plans to raise ~$888M; Enflame is the last of China's four leading AI chipmakers to go to market (April Ma / Bloomberg) (Visit Techmeme dot com for the link and full context!)
@wallstengineTencent-backed Enflame received IPO approval to raise ~$888M on Shanghai’s STAR board. The AI chipmaker plans to use proceeds for AI cloud chips and software. Tencent owns ~20% of Enflame and accounted for 84% of its 2025 revenue, with chip