Tencent-Backed Enflame’s IPO Draws 4,073 Times Retail Demand
THE SO WHAT
Retail bidding 4,073x coverage for Enflame’s AI chip IPO shows how much local capital wants exposure to domestic accelerators as an alternative to US names. For operators in China’s AI stack, that enthusiasm may translate into easier access to equity capital—but also higher expectations on growth and policy alignment.
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