Enflame’s US$900m IPO tests appetite for China’s ‘little dragon’ AI chipmakers

AI Summary

Enflame Technology is preparing for a 6.12 billion yuan (US$910.3 million) IPO on Shanghai's Star Market, aiming to attract investors amid competition from Huawei and others. The AI chipmaker seeks to reduce its revenue dependency on Tencent Holdings while expanding its market presence.

As Enflame Technology gears up for a 6.12 billion yuan (US$910.3 million) initial public offering on Shanghai’s Star Market, the Chinese artificial intelligence chipmaker must convince investors that its specialised chip strategy can withstand fierce competition from Huawei Technologies and other domestic rivals, while reducing its heavy revenue dependence on major backer Tencent Holdings. Online and offline subscriptions open on Wednesday, after the Shanghai-based start-up announced on Monday...