Enflame is one of a group of Chinese AI chip startups sometimes called the “four little GPU dragons”, alongside Moore Threads, MetaX and Biren Technology.
Enflame sold 43.04 million new shares, equal to 10 per cent of its enlarged share capital, on Shanghai’s tech-focused STAR Market.
Its offer price gave it a market value of about 61.2 billion yuan, according to its filing on Wednesday.
At around 430 yuan on Friday, Enflame’s market value had jumped to roughly 185 billion yuan, more than triple the valuation at the IPO price.
Tencent is Enflame’s largest shareholder, with a 17.95 per cent stake after the offering, and was also the company’s…
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