Shanghai Enflame Technology Co., an AI-chip startup backed by Tencent Holdings Ltd., receives approval to proceed with an initial public offering, according to Bloomberg and cited reporting. The company is described as the last of China’s “four little dragons,” a group of domestic artificial intelligence chipmakers that Beijing highlights as part of its AI supply-chain ambitions. Enflame’s IPO is set to be listed on the Shanghai Stock Exchange’s STAR board. Sources say the listing committee has approved the offering to raise around 6 billion yuan (about $888 million). The approval marks a key step in bringing the company’s shares to public markets, though it is presented as approval rather than confirmation of final pricing or timing. The reports frame the development within a broader wave of activity among China’s AI chip sector, where multiple domestic players are moving toward capital-market launches. Overall, both outlets focus on the same milestones: Tencent-backed Enflame’s approval to list on STAR and the planned fundraising size, and its position as the final member of the “four AI chip dragons” group.