Shanghai Enflame Technology Co, a Chinese AI chipmaker backed by Tencent, said on Monday it expects to raise 6.1 billion yuan ($907.78 million) in its Shanghai initial public offering after setting its IPO price at 142.18 yuan a share.
Enflame is China's latest AI chipmaker to go public as Beijing steps up its tech self-sufficiency drive, with the United States banning exports of high-end chips and advanced chip-making technologies to China to curb the country's AI ambitions.
