Rumble Acquires Northern Data in All-Stock Deal
Rumble Acquires Northern Data in an all-stock deal to add thousands of Nvidia GPUs and data centers, shifting focus to Rumble's cloud and AI strategy.
KEY TAKEAWAYS
- Adds roughly 22,000 Nvidia GPUs, including about 20,000 H100s and 2,000 H200s, boosting AI and cloud capacity.
- All-stock exchange values Northern Data at about $767 million and gives its shareholders a 30.4% stake in Rumble.
- Deal expected to close in Q2 2026 and Northern Data will delist after completion.
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Rumble Inc. (NASDAQ: RUM) said on Nov. 10, 2025, it signed a definitive agreement to acquire Germany’s Northern Data AG (ETR: NB2) in an all-stock transaction. The deal aims to expand Rumble’s cloud and artificial intelligence (AI) capacity and broaden its international footprint.
Deal Terms, Ownership, and Strategic Assets
Rumble and Northern Data said Northern Data shareholders will receive 2.0281 newly issued Class A Rumble shares for each Northern Data share. This exchange represents about a 13.0% discount to Northern Data’s last close and would leave those shareholders with a 30.4% stake in Rumble after closing. The transaction values Northern Data at roughly $767 million, rising to as much as $970 million if all shares are tendered. Northern Data will delist upon completion. The filings did not disclose termination fees or break clauses. The deal is expected to close in the second quarter of 2026, subject to shareholder approval and regulatory clearances in unspecified jurisdictions.
The acquisition adds roughly 22,000 Nvidia GPUs to Rumble’s infrastructure, including about 20,000 H100s and 2,000 H200s, along with data centers in the U.S., U.K., Germany, Sweden, Norway, Portugal, and the Netherlands. Rumble plans to use this GPU fleet and global network to expand its cloud and AI offerings, accelerate its creator, video, and advertising AI roadmap, and pursue new verticals such as AI chatbots, agents, productivity suites, and financial-services products.
Tether, which previously invested $775 million in Rumble and owns more than 38% of the company, is described as a major customer and stakeholder that will remain a key client after the transaction. Rumble Chief Executive Chris Pavlovski said, “Northern Data. Tether. Rumble. This is how we build the AI ecosystem for the future, from the ground up.”
