Rumble and Northern Data sign merger agreement as Tether makes $150 million AI commitment

Rumble and Frankfurt-listed AI infrastructure firm Northern Data have signed a business combination agreement where Rumble will launch a public exchange offer for all outstanding Northern Data shares. This merger expands Rumble's cloud and AI capabilities by adding Northern Data's significant GPU estate, including Nvidia H100 and H200 units, shortly after Northern Data divested its Bitcoin mining subsidiary. The proposed offer values the deal potentially around $767 million (or up to $967 million with a potential cash component), with shareholders expected to hold about 30.4% of the combined entity. The deal is anchored by 72% of Northern Data's equity, including Tether, which will convert part of its existing shareholder loan into Rumble shares and refinance the rest. Furthermore, Tether, which previously invested in Rumble, committed to purchasing up to $150 million in GPU services over two years to fuel its AI development outside of hyperscale providers, alongside a separate $100 million advertising agreement with Rumble.

(Source：The Block)