Rumble Considers $1.17 Billion Acquisition of Tether-Backed Northern Data to Boost AI Cloud Capabilities
10 Sources
[1]
Rumble, Northern Data Weigh $4.5 Billion AI Cloud Merger
Rumble Inc. is weighing an offer to buy German data center company Northern Data AG in an all-stock deal valuing the target at about $1.17 billion that would boost the conservative video service's bid to become a cloud-computing provider. Rumble has proposed paying 2.319 new shares for each
[2]
Rumble considers near $1.2 billion offer for German AI cloud group Northern Data
Aug 10 (Reuters) - U.S.-listed video platform Rumble (RUM.O), opens new tab is considering a potential offer of about $1.17 billion (1 billion euro) for German AI cloud group Northern Data AG (NB2.DE), opens new tab, according to separate statements from the companies and Reuters
[3]
Truth Social host Rumble weighs near $1.2 billion deal for Northern Data
Aug 11 (Reuters) - Video platform Rumble (RUM.O), opens new tab, which hosts U.S. President Donald Trump's Truth Social, is weighing boosting its global AI cloud capabilities by acquiring Germany's Northern Data (NB2.DE), opens new tab, the companies said. Rumble said it was considering making an
[4]
Rumble weighs near $1.2 billion bid for German AI cloud firm Northern Data
Aug 11 (Reuters) - U.S. video platform and cloud services provider Rumble (RUM.O), opens new tab is considering an offer of about $1.17 billion (1 billion euros) for German AI cloud group Northern Data (NB2.DE), opens new tab, according to statements from both companies. Rumble said on Sunday that
[5]
Bitcoin Treasury Company Rumble Eyes $1.17 Billion Acquisition of Tether-Owned AI Firm - Decrypt
Northern Data also said it would sell its Bitcoin mining business in a separate deal. YouTube rival and Bitcoin treasury Rumble wants to boost its global AI cloud capabilities by acquiring Germany's Northern Data. Rumble said Monday that it has proposed a deal to gain control of Northern Data's
[6]
Tether and Rumble bet on AI with $1.17B Northern Data acquisition
Tether and Rumble have announced a proposal for the joint acquisition of all Northern Data shares, taking full control of the artificial intelligence infrastructure company. According to a Monday Rumble announcement, the deal would build on Northern Data's existing AI and high-performance
[7]
Rumble considers near $1.2 billion offer for German AI cloud group Northern Data - The Economic Times
Video platform Rumble is considering a $1.17 billion bid for German AI cloud group Northern Data AG. The proposed offer would integrate Northern Data's data centre and GPU cloud businesses with Rumble's operations. Tether, Northern Data's majority shareholder, supports the transaction, though no
[8]
Rumble Announces Intent to Acquire AI Company Northern Data
Rumble has notified Northern Data of its interest in a potential all-stock exchange offer for 100% of the outstanding shares of Northern Data Transaction would create a leading force in freedom-first infrastructure supported by Rumble's existing balance sheet Tether, the majority shareholder of
[9]
Truth Social host Rumble weighs near $1.2 billion deal for Northern Data
(Reuters) -Video platform Rumble, which hosts U.S. President Donald Trump's Truth Social, is weighing boosting its global AI cloud capabilities by acquiring Germany's Northern Data, the companies said. Rumble said it was considering making an offer for the company which would give it control of
[10]
Rumble weighs near $1.2 billion bid for German AI cloud firm Northern Data
(Reuters) -U.S. video platform and cloud services provider Rumble is considering an offer of about $1.17 billion (1 billion euros) for German AI cloud group Northern Data, according to statements from both companies. Rumble said on Sunday that a deal would give it control of Northern Data's
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Video platform Rumble is weighing an all-stock offer to acquire German AI cloud group Northern Data, aiming to enhance its cloud computing services and gain access to a significant inventory of Nvidia GPUs.
Rumble's Strategic Move in AI Cloud Computing
Rumble Inc., a U.S.-listed video platform and cloud services provider, is considering a significant acquisition that could reshape its position in the AI cloud computing market. The company is weighing an all-stock offer to buy German data center company Northern Data AG in a deal valuing the target at approximately $1.17 billion
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Source: Bloomberg
The Proposed Deal Structure
Rumble has proposed an exchange ratio of 2.319 new Rumble shares for each Northern Data share. This offer values Northern Data's stock at about $18.27 per share, representing a steep discount of around 32% to Northern Data's closing price of €23.02 ($26.81) as of the last trading day
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. If the deal proceeds, Northern Data shareholders would end up owning about a third of Rumble1
.Strategic Rationale and Assets
The potential acquisition is aimed at integrating Northern Data's data center business and GPU cloud business into Rumble's existing operations
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. Of particular interest is Northern Data's cloud unit, Taiga, which holds a significant inventory of Nvidia GPU chips, including approximately 20,480 H100s and over 2,000 H200s3
. This acquisition would substantially boost Rumble's AI cloud capabilities and position in the market.Tether's Involvement and Future Commitments
Source: Reuters
Tether, the world's largest stablecoin company, plays a crucial role in this potential deal. As the majority shareholder of Northern Data, Tether has expressed support for the transaction
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. Following the acquisition, Tether is expected to become an important customer of Rumble, with a multi-year commitment to purchase GPUs3
. This arrangement could provide Rumble with a stable, high-profile client for its expanded cloud services.Divestiture of Crypto Mining Business
As part of the proposed deal, Northern Data plans to divest its crypto mining business, Peak Mining, prior to the completion of the acquisition
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. The proceeds from this sale would be used to repay part of an existing loan from Tether to Northern Data3
. This divestiture aligns with the strategic focus on AI cloud capabilities and data center operations.Related Stories
Market Implications and Uncertainties
While both companies have confirmed ongoing discussions, they emphasize that there is no certainty that these talks will result in a formal offer
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. The potential deal has attracted significant attention in the tech and financial sectors, given its implications for the AI cloud computing market and the involvement of major players like Tether.
Source: Decrypt
Rumble's Background and Recent Developments
Rumble, which went public in December 2021 via a SPAC deal, has positioned itself as a conservative-friendly alternative to YouTube
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. The company has recently ventured into Bitcoin holdings, currently possessing 210.8 BTC worth over $25 million5
. This move into cryptocurrency aligns with its association with Tether and the broader digital asset ecosystem.As discussions continue, the tech industry watches closely to see how this potential merger could reshape the landscape of AI cloud computing and data center operations.
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