Enflame Raises $912 Million in Shanghai IPO
Tencent-backed AI chip startup Shanghai Enflame Technology raised $912 million in its initial public offering. The company will make its debut on the Shanghai STAR Market on Friday with a valuation of over $9 billion.
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Shanghai Enflame Technology raised 6.12 billion yuan ($912 million) in an initial public offering, valuing the AI chipmaker at 61.19 billion yuan ($9.12 billion). The Tencent-backed startup is set to make its trading debut on the Shanghai stock exchange on Friday morning. The offering prices 43 million new shares at 142.18 yuan each on the STAR Market.
