The Shanghai Stock Exchange has given the green light to Enflame Technology's Initial Public Offering (IPO) application on the STAR Market, with the company planning to raise a whopping 6 billion yuan. Enflame Technology, a cloud - based AI chip enterprise, has achieved remarkable feats by independently developing five chips across four generations of architectural frameworks, thus building a comprehensive product system.

Its Yusuan platform stands out as it breaks free from the shackles of dependence on the CUDA ecosystem. Through in - depth collaboration with leading internet companies, the platform has witnessed a consistent upward trajectory in revenue. This impressive performance has not gone unnoticed, attracting substantial investments from well - known institutions, with Tencent being a prominent investor.

The funds raised from the IPO will be strategically allocated to the research, development, and industrialization of next - generation AI chips, paving the way for the company's continued growth and innovation in the highly competitive AI chip sector.