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                              November 10, 2022

       Chaowei Yan
       Chief Financial Officer
       Intchains Group Ltd
       c/o 9/F, A Block, No.333 Haiyang No.1 Road
       Lingang Science and Technology Park
       Pudong New Area, Shanghai, 201306
       the People   s Republic of China

                                                        Re: Intchains Group Ltd
                                                            Amendment No. 5 to
Registration Statement on Form F-1
                                                            Filed November 3,
2022
                                                            File No. 333-265756

       Dear Chaowei Yan:

             We have reviewed your amended registration statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your registration
statement and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your registration statement and
the information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our
September 12, 2022 letter.

       Amendment No. 5 to Form F-1 filed November 3, 2022

       General

   1.                                                   Disclose whether your
offering is contingent upon on final approval of your NASDAQ
                                                        listing on your cover
page. Please ensure the disclosure is consistent with your
                                                        underwriting agreement.
To the extent you intend to proceed with your offering if your
                                                        NASDAQ listing is
denied, revise your cover page to indicate that the offering is not
                                                        contingent on NASDAQ
approval of your listing application and that if the shares are not
                                                        approved for listing,
you may experience difficulty selling your shares. Include risk factor
                                                        disclosures to address
the impact on liquidity and the value of shares.
 Chaowei Yan
Intchains Group Ltd
November 10, 2022
Page 2
2.       We note recent instances of extreme stock price run-ups followed by
rapid price declines
         and stock price volatility seemingly unrelated to company performance
following a
         number of recent initial public offerings, particularly among
companies with relatively
         smaller public floats. Revise to include a separate risk factor
addressing the potential for
         rapid and substantial price volatility and any known factors
particular to your offering that
         may add to this risk and discuss the risks to investors when investing
in stock where the
         price is changing rapidly. Clearly state that such volatility,
including any stock-run up,
         may be unrelated to your actual or expected operating performance and
financial
         condition or prospects, making it difficult for prospective investors
to assess the rapidly
         changing value of your stock.
       You may contact SiSi Cheng at (202) 551-5004 or Martin James at (202)
551-3671 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Bradley Ecker at (202) 551-4985 or Erin Purnell at (202) 551-3454 with
any other
questions.



FirstName LastNameChaowei Yan                                  Sincerely,
Comapany NameIntchains Group Ltd
                                                               Division of
Corporation Finance
November 10, 2022 Page 2                                       Office of
Manufacturing
FirstName LastName