Overview
- Northern Data shareholders will receive 2.0281 newly issued Rumble Class A shares per share and are expected to own about 30.4% of the combined company, with Northern Data to delist at closing.
- The deal adds roughly 22,400 Nvidia H100/H200 GPUs plus four owned data centers and multiple co-located sites across Europe and the U.S., expanding Rumble’s AI and cloud footprint.
- Tether agreed to purchase up to $150 million in GPU services upon close and to spend $100 million on advertising over two years beginning in early 2026, positioning it as an anchor customer.
- Closing is targeted for the second quarter of 2026 subject to the exchange offer, shareholder tenders and regulatory approvals, with Rumble pledging $200 million in tax-liability support and Northern Data outlining a potential $200 million payout tied to a Corpus Christi data center sale.
- Markets welcomed the announcement, with Rumble up about 21% in pre-market trading and Northern Data up roughly 46% on Monday, as Canaccord later cut Northern Data to hold to reflect the agreed terms.