Nvidia-Backed Nscale Downplayed ByteDance Ties Ahead of US IPO

Nscale, an AI cloud provider backed by Nvidia, downplayed its ties to ByteDance in its main pitch to investors ahead of a U.S. IPO, according to the Financial Times.

The TikTok owner accounted for nearly three-quarters of Nscale's sales last year and was one of the first major customers for Nscale's cloud-computing business, renting access to advanced Nvidia AI chips in Norway.

Nscale's relationship with ByteDance was only indicated in a document published alongside its main filing for a U.S. initial public offering, which did not directly mention ByteDance by name.