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Rumble, a video platform known as an alternative to YouTube, has announced plans to acquire Northern Data, a German company focused on artificial intelligence (AI) and high-performance computing.
The deal is supported by Tether
$0.9998
, which already holds a controlling interest in Northern Data.
According to the agreement, Northern Data shareholders will receive 2.0281 new Class A Rumble shares for each Northern Data share they own. The deal is valued at about $800 million and will take effect once Rumble’s share exchange offer is complete.
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Rumble said the purchase will give it access to Northern Data’s graphics processing units (GPUs) and help expand its cloud services.
The company, which promotes itself as a “freedom-first technology platform”, noted that the acquisition will strengthen its AI and data infrastructure.
Rumble CEO Chris Pavlovski said, “At Rumble, with the exchange offer for Northern Data, we will be in a position to expand our partnership with Tether, supply them as an anchor customer on our freedom-first AI infrastructure and help them execute on their game-changing AI plans rooted in privacy, independence and resilience”.
Alongside the acquisition, Tether announced it would buy $150 million worth of GPUs from Rumble. The goal is to develop tools that support global content creators and to build an AI network that operates independently from cloud providers.
On November 11, SoftBank Group sold its entire Nvidia stake as it focuses on AI investments. What did Chief Financial Officer Yoshimitsu Goto say? Read the full story.
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