China's AI chip startup Enflame announced a successful fundraising of 2 billion yuan ($273.68 million) from investors, which included funds associated with a government authority in Shanghai.

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This development coincides with growing interest from investors in companies involved in AI-related infrastructure, particularly AI chips, spurred by the success of generative AI models like OpenAI's ChatGPT.

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The fundraising round was co-led by investors, including funds supported by Shanghai International Group, an entity overseen by the state asset regulating authority in Shanghai.

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