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Fortune
Fortune
Jim Edwards

Nscale’s $35 billion IPO is heavily dependent on ByteDance’s access to Nvidia’s chips

Photo: ByteDance CEO (Credit: Photographer: Gilles Sabrie/Bloomberg)

Good morning. On Fortune’s radar today:

  • Nscale’s $35 billion IPO is heavily dependent on ByteDance.
  • See Fortune’s 2026 Change the World list here .
  • The U.S. semiconductor export bans did little to slow down China’s chip trade.
  • Markets: A rare double-zero day.
  • AI is creating some jobs—at very small companies.
  • For most people, the weekend is now only one day.
  • Despite their complaints, Gen Z is richer than the Millennials, Gen X, or the Baby Boomers ever were .
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