Chinese manufacturer set the offering price at about US$ 21.16 per share and intends to direct the proceeds to new generations of chips and computing systems for artificial intelligence.
Chinese Enflame Technology (燧原科技) set on Monday (31) the price of its initial public offering on the Shanghai Stock Exchange at approximately US$ 21.16 per share, in a transaction expected to raise about US$ 911 million.
The company will place approximately 43 million new shares on the market, equivalent to 10% of the capital after the offering. At the price established for the IPO, the AI chip manufacturer comes to market valued at approximately US$ 9.1 billion. The subscription is scheduled for September 2.
The proceeds will be directed mainly to the development and industrialization of the fifth and sixth generations of artificial intelligence chips of Enflame, in addition to projects focused on the integration between hardware and software for AI computing.
The company still operates at a loss and uses revenue, rather than profit, as one of the benchmarks for its valuation. In 2025, Enflame recorded revenue equivalent to approximately US$ 147 million.
