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Tencent-Backed Enflame Wins STAR Market IPO Approval, Eyes 6 Billion Yuan

  • Infra & Chips
  • Funding & M&A

Chinese AI chip designer Shanghai Enflame Technology has received approval for an initial public offering (IPO) on the Shanghai Stock Exchange's STAR Market. Backed by Tencent as both its largest shareholder and customer, the company plans to raise about 6 billion yuan (roughly $830 million to $890 million).

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