Two Chinese AI Chipmakers Seek IPOs to Mount Challenge to Nvidia
- Enflame, Biren are prepping to float shares as soon as in 2024
- Investors are bidding up shares in AI chipmakers like Nvidia
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Two of China’s most prominent designers of AI chips are targeting initial public offerings in Shanghai as soon as this year, taking advantage of growing appetite for domestic players seeking to challenge Nvidia Corp.
Shanghai Enflame Technology Co. aims to raise as much as 2 billion yuan ($280 million) in an IPO on Shanghai’s STAR board, choosing a venue friendly to loss-making but fast-growth startups, the people said, asking to remain anonymous discussing private plans. Rival Shanghai Biren Intelligent Technology Co. plans to file for its own IPO on the same bourse, people familiar with the matter said. Both now aim to formally file documents this year, eyeing a 2024 or early 2025 debut.