Nscale

A filing reveals that ByteDance, the Chinese parent company of TikTok, gained access to more than 2,000 Nvidia B200 chips through Nscale's data center in Norway. A Singaporean subsidiary, Spring, reportedly contributed 73 percent of the UK neocloud company's 2025 revenue, raising questions about how US export restrictions on advanced chips to China are being circumvented.

British data centre startup Nscale is preparing a New York IPO valued at around $35 billion, with law firms Latham & Watkins and Milbank leading on the deal. The listing would rank among the largest offerings from a UK-founded tech company on US markets, underlining the growing investor interest in data centre infrastructure driven by artificial intelligence demand.