Overview
- Northern Data investors are set to receive 2.0281 newly issued Rumble Class A shares per share and hold about 30.4% post-close, with Northern Data to delist and completion targeted for the second quarter of 2026.
- The transaction adds roughly 22,400 Nvidia GPUs and multiple data centers across Europe and the United States, including about 20,400 H100s and 2,000 H200s, to expand Rumble’s AI and cloud capacity.
- Tether agreed to purchase up to $150 million of GPU services from the combined company and to spend $100 million on advertising, reinforcing its role as an anchor customer following its prior $775 million strategic investment in Rumble.
- The package includes $200 million in tax liability support from Rumble and a provision for Northern Data to pay $200 million in cash to its shareholders if the Corpus Christi, Texas, site is sold before closing.
- Broker Canaccord downgraded Northern Data to Hold, citing the implied exchange ratio, while Rumble said major Northern Data shareholders including Tether representing over 70% of the stock have committed to accept the offer, as reported.