Enflame: IPO and Pre-IPO rounds
deadlineSep 9, 2026
“Deadline: September 9, 19:00 MSK”Enflame is a Chinese AI chip developer reportedly among the top 5 in China.
The project is described as relatively inexpensive versus competitors when measured by 2025 revenue, with an implied valuation of roughly 60x compared with 150x+ for peers.
Its largest shareholder and main customer is Tencent, which is also presented as the main risk because it accounts for nearly 80% of revenue.
Two rounds are currently available on A2DAO:
IPO round • Valuation: $9.12B • Unlock: 100% at listing • Deadline: September 9, 19:00 MSK
Pre-IPO round • Valuation: $7.38B • 1-year cliff • Deadline: September 15, 19:00 MSK