invest1 publisher
Nscale's $35 billion IPO prices $33 million of 2025 revenue at about 1,060 times
The Financial Times reported that ByteDance supplied 73 percent of that revenue. Nscale's S-1 warns about customer concentration in general terms, and the customer's name sits in an exhibit to a Macquarie loan.
Publishers:fortune.com
Reality
- Evidence55
- Adoption30
- Hype gap+65
- Incentives78
- Confidence52