Shares of Rumble (RUM) jumped 21% in premarket trading after it announced it agreed to buy AI and high-performance computing company Northern Data AG (NB2), and stablecoin issuer Tether agreed to buy up to $150 million worth of GPU services from the combined company.
Rumble, based in Longboat Key, Fla., said it expects the 100% share acquisition to be completed in the second quarter of next year. Investors in Frankfurt-based Northern Data will receive 2.0281 new Rumble shares for every NB2 share they own, and will end up owning about 30% of the combined company. Tether and other major shareholders of Northern Data representing more than 70% of the shares have committed to accept the offer.
The deal will give Rumble an additional 22,400 Nvidia GPUs and expand its cloud capacity to nearly 180 MW while strengthening its presence in Europe. Shares of Northern Data soared 47% during Monday’s session, bringing its market capitalization to about $1.3 billion.
Tether’s agreement to purchase Rumble’s services once the deal closes gives the world’s largest stablecoin issuer access to high-performance computing power for its decentralized AI infrastructure, reducing reliance on major cloud providers and supporting its broader drive to build independent AI systems. It builds on Tether’s previous $775 million strategic investment in Rumble.
Tether also announced that it would spend $100 million on a two-year advertising campaign aimed at driving adoption of Rumble Wallet. The campaign will integrate Rumble Wallet with Tether’s USDT, XAUT, and BTC products, expand monetization options for creators who prioritize free expression, and accelerate the growth of Rumble’s advertising and ecosystem.
