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US video platform Rumble to buy Northern Data at $767m
Rumble will acquire German AI cloud provider Northern Data in an all-stock deal valued at about US$767 million, the companies announced on November 11.
For each Northern Data share, shareholders will receive 2.0281 newly issued Rumble class A shares, resulting in them holding 30.4% of Rumble after the transaction.
The agreement includes a US$150 million GPU leasing arrangement with Tether, which owns 48% of Rumble, and US$200 million in tax liability support from Rumble.
As part of the deal, Rumble will acquire 22,400 Nvidia GPUs, and Northern Data will delist from the stock exchange.
Rumble, which also hosts Truth Social, initially made an offer in August to buy Northern Data, targeting its Taiga business and Ardent data center operations.
🔗 Source: Reuters
🧠 Food for thought
Implications, context, and why it matters.
The GPU fleet carries heavy operational load that could slow results
- Rumble is buying 22,400 Nvidia GPUs 1. Northern Data booked €8 million from Cloud and Data Center in Q3 2025 2, with utilization still weak despite upgrades that started in late March 2025 for multi-tenancy (many customers securely sharing the same hardware) and on-demand access 2.
- The company withdrew its 2025 outlook because it is weighing possible deals and GPU pricing shifts 2. That move followed the allocation of 15,000+ GPUs to customers, with utilization guided to top 60% in October 2025 2.
- Northern Data cut €15-20 million in annual costs 2, a sign of bloat. Rumble would take on about 250 megawatts (MW) of power capacity across eight data centers, live or due by 2027 3. Turning that into sellable AI compute will need steady investment beyond the GPUs 3. This creates near-term cash outlays.
Data center operators can move fast on gaps at Northern Data sites that Rumble would get at closing
- Pittsburgh has 2.4 MW of IT capacity now, with a path to 12 MW by 2027 4. Maysville targets 60 MW in Q1 2026 5, which opens the door for vendors with modular power and liquid cooling systems (circulating coolant to remove heat) that can support 135+ kilowatts (kW) per rack 4.
- Northern Data’s Corpus Christi sites have 600 MW of grid capacity, with 100 MW used for bitcoin mining 2. They sit under exclusivity with a global infrastructure asset manager 2. That sets up near-term deals where colocation providers (third-party data centers that rent space and power) and electrical equipment vendors offer grid services 2. Cooling upgrades and fiber connectivity can support AI workload offtake agreements.
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