ByteDance brought in nearly 75% of Nscale’s 2025 sales, the FT reports
“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 Chinese owner of TikTok.
According to the FT, a ByteDance subsidiary in Singapore, Spring (SG) Pte. Ltd., brought in nearly three quarters of the UK AI cloud company’s sales last year. It used Nscale’s data centre in Norway to reach Nvidia chips it could not buy in China.
What the filings show
Nscale’s prospectusreports revenue of $33.0m for 2025 and $140.6m for the first half of 2026....
Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE
