UK-based “neocloud” Nscale built its business on a major deal with a ByteDance subsidiary named Spring, which accounted for $24 million of its $33 million annual revenue in 2025. This contract allowed Spring to access 2,304 Nvidia B200 chips at Nscale’s Glomfjord, Norway, data center. Even though the Financial Times reports that this was legal and exploited loopholes in the U.S.’s ongoing export controls against China, it still exposes the company to regulatory and reputational risk, especially as Washington continues to restrict Chinese access to its most advanced AI accelerators.
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S. There was also no direct mention of the TikTok owner or its subsidiary anywhere in its S-1 filing; instead, it was noted in a supporting document, a $105 million loan agreement with Macquarie, that Spring (SG) Pte Ltd, a Singaporean ByteDance subsidiary, was a significant customer. This credit, alongside a $35 million in equity, helped fund the purchase of advanced Nvidia AI GPUs, which also caught the attention of the chipmaker.
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