Nvidia-backed Nscale keeps its biggest customer, Bytedance, out of its IPO filing
Nvidia-backed Nscale omitted its largest customer, ByteDance, from its IPO filing despite the Chinese company accounting for 73% of its 2025 revenue.
Nvidia-backed AI cloud provider Nscale excluded its largest customer, ByteDance, from the main prospectus of its planned US IPO. ByteDance accounted for 73% of Nscale's revenue in 2025, using Nvidia B200 chips in Norway to circumvent US export rules. Nscale expects ByteDance's revenue share to drop below 20% this year as contracts with Microsoft and Anthropic grow.
- Nvidia-backed Nscale omitted its largest customer, ByteDance, from its IPO filing.
- ByteDance accounted for 73% of Nscale's 2025 revenue and uses Nvidia B200 chips.
- Nscale expects ByteDance's revenue share to drop below 20% as it grows other contracts.
- Vendors
- Nvidia
- AI models
- Nvidia B200
From the original article
1 min read at the-decoder.com
Nscale, the Nvidia-backed AI cloud provider, leaves its most important customer, Bytedance, out of the main prospectus for its planned US IPO. The article Nvidia-backed Nscale keeps its biggest customer, Bytedance, out of its IPO filing appeared first on The Decoder.
By Maximilian Schreiner · the-decoder.com
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