Technology
Tencent-Backed Enflame Heads to IPO as China AI Chip Wave Grows
Key Points
Tencent-Backed Enflame Heads to IPO as China AI Chip Wave Grows Tencent Holdings Ltd.-backed Shanghai Enflame Technology Co. has received approval for an initial public offering, a key step toward bringing to the market the last of the “four little dragons,” a group of leading artificial intelligence chipmakers. The company, in which Tencent holds a 20% stake and remains a dominant customer, plans to raise 6 billion yuan ($888 million) on the Shanghai Stock Exchange’s chip-heavy STAR board,...
Tencent-Backed Enflame Heads to IPO as China AI Chip Wave Grows
Tencent Holdings Ltd.-backed Shanghai Enflame Technology Co. has received approval for an initial public offering, a key step toward bringing to the market the last of the “four little dragons,” a group of leading artificial intelligence chipmakers.
The company, in which Tencent holds a 20% stake and remains a dominant customer, plans to raise 6 billion yuan ($888 million) on the Shanghai Stock Exchange’s chip-heavy STAR board, according to its prospectus. It plans to offer between 10% and 15% of its shares and intends to use the proceeds to support the development and production of AI cloud chips and related software, it said.
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T20
4X
T21
25m
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