Chinese AI Chip Maker Enflame Technology Announces STAR Market IPO Subscription Date
Chinese AI chip startup Enflame Technology has announced its IPO subscription date on the STAR Market for September 2, aiming to raise 6 billion RMB. The funds will be used to develop its fifth- and sixth-generation AI chips and support software-hardware co-innovation projects. As one of China's "Four Little Dragons" of domestic GPUs, Enflame's IPO represents a major milestone in China's push for semiconductor self-reliance. The successful fundraising will accelerate the development of domestic alternatives to Western AI hardware. Enflame plans to issue over 43 million shares, representing 10% of its total post-IPO share capital. The company is currently unprofitable, meaning it will be listed under the STAR Market's growth enterprise segment if it remains unprofitable at the time of listing.
## BACKGROUND
Founded in 2018, Enflame Technology specializes in AI training and inference chips for data centers, utilizing its proprietary Deep Thinking Unit (DTU) architecture. Along with Moore Threads, Biren Technology, and Muxi, it is considered one of the leading Chinese startups attempting to challenge Nvidia's dominance in the AI hardware market.