Tencent-Backed Enflame’s IPO Draws 4,073 Times Retail Demand

Shanghai Enflame Technology, an artificial intelligence chipmaker supported by Tencent Holdings, saw its initial public offering generate retail demand 4,073 times the number of available shares. As the final company among China's prominent group of four major AI chip startups to go public, the 900 million dollar offering serves as a significant indicator of investor appetite for domestic semiconductor firms amid broader efforts to advance local technological self-sufficiency.