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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

Chinese tech giant was AI cloud provider's largest customer last year but is not prominently named in pitch to stock market investors

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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

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Financial Times — 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 ↗

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Sep 23Sep 24

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CNBC: London-based AI infrastructure startup Nscale files for a US IPO, reports H1 2026 revenue up 1,252% YoY to $140.6M, with a net loss of $1.02B, up from $368.9M

Bloomberg: London-based AI infrastructure startup Nscale is in talks to raise as much as $3.5B in financing, including $2B from Nvidia, ahead of a planned IPO

Financial Times: Beijing allowed ByteDance and Tencent to each receive about 10,000 Nvidia H200 chips at their mainland China facilities in recent weeks

TechCrunch: Nscale secures $3.36B in convertible financing led by Third Point ahead of its US IPO, with $2.36B available immediately and $1B from Nvidia in November

The Information: ByteDance's H1 2026 net profit dropped by a single-digit percentage YoY to $20B and revenue rose ~30% to $120B; its 2025 revenue rose 29% to ~$200B

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