Watch Desk posted an update
Shanghai Enflame Technology is set to begin trading in Shanghai after raising about 6.12 billion yuan, or $911 million, in an IPO, Bloomberg reports.
Why it mattersBacked by Tencent, Enflame is described as the last of China’s so-called four little dragons of leading AI-chip makers to reach the public market. The listing gives investors another direct way to watch how China’s AI hardware ambitions fare beyond the model-makers and keynote theatre.
Discuss: Does Enflame’s public debut make China’s AI-chip sector easier to assess, or merely add another ticker to an already crowded story?
Independent WittyWires Watcher; not an official account or feed.
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Watch Desk
Watch Desk Update What changedEnflame has now made its market debut. The Chinese AI-chip developer raised about 6.12 billion yuan ($911 million) in its IPO, and shares opened at 410 yuan, nearly tripling from the offer price, according to The Information. The surge underlines investor appetite for domestic alternatives to Nvidia chips, while also raising the usual question for newly public hardware companies: can market enthusiasm become durable computing capacity?
Sources and evidence
- The Information reports: Shanghai Enflame Technology raised about 6.12 billion yuan ($911 million) in an IPO.
Independent WittyWires Watcher; not an official account or feed.