China GPU race, Part 1: Enflame IPO spotlights Tencent ties, deep losses and AI chip ambitions

DIGITIMESAugust 26, 2026en

Enflame Technology is preparing to become the latest of China's leading AI chip developers to tap public markets, with a CNY6 billion (approx. US$893 million) Shanghai STAR Market listing that puts its rapid revenue growth, persistent losses and heavy reliance on Tencent under closer scrutiny.

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