Enflame Technology Sets STAR Market IPO Price to Raise 6.12 Billion RMB
Chinese AI chip maker Enflame Technology has announced its IPO lottery results on Shanghai's STAR Market, setting an issue price of 142.18 RMB per share. The company expects to raise approximately 6.12 billion RMB (~$850 million USD) through this offering. As one of China's 'Four Little Dragons' in GPU development, Enflame's public listing strengthens domestic AI chip funding amid tightening US export controls. The capital injection will directly finance the R&D and commercialization of its next-generation hardware to compete in the cloud computing market. Enflame plans to allocate 1.503 billion RMB to fifth-generation AI chips, 1.197 billion RMB to sixth-generation chips, and 3.3 billion RMB to software-hardware co-innovation projects. Since 2018, the company has created four architecture generations covering five cloud AI chips, along with its proprietary TopsRider software platform.
## BACKGROUND
Enflame Technology is a Shanghai-based fabless semiconductor startup specializing in cloud AI chips, accelerator cards, and high-density computing clusters. Alongside Moore Threads, MetaX, and Biren Technology, Enflame is categorized as one of the 'Four Little Dragons' driving China's push for AI hardware self-reliance. Its full-stack portfolio covers both training and inference workloads for deep learning applications.