Enflame Technology Announces STAR Market IPO Results, Raising 6.12 Billion RMB
Chinese AI chip maker Enflame Technology published its Shanghai STAR Market IPO results, setting the issue price at 142.18 RMB per share with an online subscription success rate of just 0.0245%. The company plans to raise 6.119 billion RMB to fund its next-generation AI hardware and software development. The extremely low online allotment rate demonstrates high market enthusiasm for domestic AI semiconductor companies amid China's push for technological self-reliance. As one of China's prominent AI chip developers, Enflame's successful public listing provides significant capital to accelerate R&D against international competitors. Enflame plans to allocate 1.503 billion RMB and 1.197 billion RMB toward R&D for its fifth- and sixth-generation AI chip series, along with 3.3 billion RMB for advanced AI software-hardware co-innovation. Founded in March 2018, the startup has developed four architecture generations across five cloud AI chip models to date.
## BACKGROUND
Enflame Technology is recognized as one of China's "Four Little Dragons of Domestic GPUs" alongside Moore Threads, MetaX, and Biren Technology. These prominent Chinese startups focus on developing proprietary architectures—such as Enflame's GCU (General Compute Unit)—for cloud AI training and inference accelerators to replace foreign chips in data centers.