ByteDance brought in nearly 75% of Nscale’s 2025 sales, the FT reports
Nscale's IPO filing leaves out its biggest customer. The Financial Times reports it was ByteDance, whose Singapore unit Spring brought in nearly three quarters of Nscale's 2025 sales. A loan exhibit shows the contract covered 2,304 Nvidia B200 chips in Norway.
Via TNW | Investors-funding
“A substantial portion of our revenue is driven by a limited number of our customers, and the loss of, or a significant reduction in, spend from one or a few of our top customers would adversely affect our business,” Nscale wrote in the prospectus for its New York listing.
The prospectus, filed with the US Securities and Exchange Commission on 18 September, does not name that customer. On Wednesday, the Financial Times reported that in 2025 it was ByteDance, the…
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