Shares of Rumble (RUM +11.38%) jumped on Monday after the tech platform made a flurry of auspicious announcements.
As of 2:40 p.m. EST, Rumble's stock price is up more than 10%.
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Rumble wants to be a player in the high-performance computing race
Rumble reached a deal to acquire artificial intelligence (AI) infrastructure provider Northern Data. Under the terms of the agreement, Northern Data stockholders would receive 2.0281 newly issued Rumble shares for each Northern Data share exchanged.
Northern Data shareowners who accept Rumble's offer could also receive a total of $200 million in cash payments if the sale of the high-performance computing company's previously owned data center in Corpus Christi proceeds as planned and certain commercialization milestones are met.
The proposed combination would give Rumble access to over 22,000 Nvidia-made graphics processing units (GPUs) housed in a geographically diverse network of data centers spread across Europe and the U.S.
NASDAQ: RUM
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A digital asset giant wants to be Rumble's anchor customer
Rumble also announced that stablecoin titan Tether has committed to buy up to $150 million of GPU services upon the deal's expected closing in the second quarter of 2026. Tether also agreed to spend $100 million on Rumble's ad platform over a two-year period starting early 2026.
These sizable commitments, along with likely ongoing support from Tether -- a digital asset enterprise with over $10 billion in annual profits -- should provide Rumble with significant advantages in scaling up its AI infrastructure operations.
