China GPU race, Part 1: Enflame IPO spotlights Tencent ties, deep losses and AI chip ambitions

Enflame Technology is preparing to become the latest of China's leading AI chip developers to tap public markets, with a CNY6 billion (approx. US$893 million) Shanghai STAR Market listing that puts its rapid revenue growth, persistent losses and heavy reliance on Tencent under closer scrutiny.