Enflame won approval to raise about 6 billion yuan ($888 m) on Shanghai's STAR board.
The Tencent-backed startup filed for an IPO on the STAR board and received listing-committee clearance, according to Bloomberg. The offering will sell new shares to investors, bringing fresh capital to a company that designs AI accelerators for data‑center workloads. It is the last of the four AI‑chip makers the Chinese government has earmarked as strategic assets.
The IPO gives Enflame a public market runway while the sector faces tightening export controls and fierce competition from Nvidia and domestic rivals. Fresh funds could help it scale production and lock in design wins with cloud providers.
Even with the cash boost, Enflame still needs to prove its chips can match performance‑per‑watt metrics that customers now expect.