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Fortune

Jim Edwards

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

ByteDance Nscale IPO

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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