Nscale's ByteDance Deal Contributes to $35bn IPO Plans Amid Strong Sales
Deals·2 articles across 2 outlets
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Nscale, an AI cloud provider backed by Nvidia, is planning a $35 billion IPO. Despite ByteDance being its largest customer last year, the Chinese tech giant is not prominently featured in Nscale's pitch to investors.
According to sources and Nscale's US SEC filings, ByteDance accounted for nearly 75% of Nscale's sales in 2025 and utilized Nscale's facility in Norway to access Nvidia AI chips.
NscaleByteDanceNvidia
Sources
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SourceReports the news
“Chinese tech giant was AI cloud provider’s largest customer last year but is not prominently named in pitch to stock market investors”
FT — Nvidia-backed Nscale buried ByteDance deal in push to $35bn IPO“ByteDance accounted for nearly 75% of Nscale's sales in 2025 and used Nscale's facility in Norway to access Nvidia AI chips”
techmeme — Sources and Nscale's US SEC filings: ByteDance accounted for nearly 75% of Nscale's sales in 2025 and used Nscale's facility in Norway to access Nvidia AI chips (Financial Times)