US Video Platform Rumble Expresses Interest in Acquiring Germany’s Cloud Firm, Northern Data
American cloud service and video platform Rumble is planning a $1.2 billion offer to acquire German AI cloud company Northern Data. Rumble has already communicated its interest in Northern Data GPU cloud acquisition to the German firm.
According to Reuters, Northern Data is open to discussing the offer further and that its board has started evaluating Rumble’s potential offer.
Rumble-Northern Data Share Swap
Rumble’s proposed offer values Northern Data at an estimated $18.3 per share. The offer also represents a 32% discount on Northern Data’s latest closing price at the Frankfurt stock exchange.
If the companies pursue the Rumble Northern Data bid, Northern Data shareholders would receive 2,319 newly issued Class A Rumble shares for each Northern Data share. The deal would result in Northern Data shareholders owning approximately 33.3% of Rumble on a pro-forma basis, if all shares are tendered.
Northern Data’s AI Potential
Rumble claims that the offer would allow it to control Taiga, which is Northern Data’s lucrative, GPU-rich business. Taiga currently holds a huge inventory of NVIDIA H100/H200 GPUs, about 20,480 and 2,000 respectively.
The deal would also enable Rumble to control the company’s large-scale data center business called Ardent. Both Ardent and Northern Data own five data center sites with an energy potential of about 850 MW. The energized capacity includes the site in Maysville, Georgia which is expected to deliver upwards of 180 MW upon completion.
Data centers are critical in building and using AI because they provide the tools and equipment needed to run AI programs and process huge volumes of data. Last week, Japanese investor SoftBank acquired Foxconn-owned electric vehicle factory in Ohio to launch its Stargate data center, a $500 billion private sector investment in AI infrastructure.
Integration of Northern Data’s tech assets Taiga and Ardent into Rumble’s operations would significantly enhance the video company’s AI and cloud capabilities. These capabilities would enable the two companies to pursue AI leadership and data privacy on a global scale.
Tether Supports Rumble’s Acquisition Deal
Tether, the stablecoin platform which holds the biggest stake in Northern Data, has supported the proposed deal. Tether is the largest firm in the digital assets industry and the most widely used dollar stablecoin across the world.
Tether also has links with Rumble, having invested $775 million in the cloud services platform in February 2025. Tether committed to sell its 54% stake in Northern Data to Rumble in exchange for Rumble’s common stock subject to the definitive documentation of the acquisition deal.
This exchange would expand its investment in Rumble and amend the current loan the stablecoin platform issued to Northern Data. The acquisition would also make Tether Rumble’s most valued customers due to its multi-year commitment to buy GPUs.
Rumble’s proposal assumes that the crypto mining unit in Northern Data will be sold before the deal is concluded. Proceeds from this sale would be used to reduce the loan facility issued to Northern Data by Tether. However, a determination will be made upon conclusion of negotiations and due diligence. It’s still not certain that negotiations between Rumble and Northern data will result in a formal offer. However, the two companies agree that a final offer would result in a higher valuation.
