Rumble (RUM) Company Report

On November 9, 2025, Rumble announced an all-stock transaction to acquire Northern Data, aiming to build a "Freedom-First AI Infrastructure".
Northern Data shareholders will receive 2.0281 newly issued Rumble Class A shares for each of their shares, resulting in a pro forma ownership of 69.6% for Rumble and 30.4% for Northern Data.
The acquisition provides Rumble with immediate scale in enterprise GPU-as-a-Service (GPUaaS) and data centers, adding 22K+ GPUs and 9 data centers to its ecosystem.
Tether has committed to an initial purchase of up to $150 million in GPU services over a 2-year period and a $100 million advertising commitment, securing the business model for the combined entity.

Nov 10, 2025, 2:00 PM

Rumble announces Northern Data acquisition and strategic partnerships with Tether

RUM

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Rumble announced an exchange offer for Northern Data, which will transform it into an AI infrastructure leader with over 22,000 GPUs and nine data centers. This acquisition also positions Rumble as an international player.
Tether committed to a $150 million GPU purchase agreement with Rumble, payable at $75 million per year over two years following the transaction's close, which is anticipated in the first half of 2026.
Tether also made a $100 million advertising commitment to Rumble, at $50 million per year over two years, starting in 2026, to fuel the video platform and creator growth using the Rumble Wallet.
The Rumble Wallet is planned for release to a larger user base in the coming weeks and to the entire user base by mid-December.

Nov 10, 2025, 2:00 PM

Rumble to Acquire Northern Data for $767 Million

RUM

M&A

New Projects/Investments

Takeover Bid

Rumble has agreed to acquire German AI/cloud operator Northern Data in an all-stock transaction valued at roughly $767 million. Northern Data holders will receive 2.0281 newly issued Rumble Class A shares per Northern Data share, resulting in them owning about 30.4% of the combined company.
The acquisition will significantly expand Rumble Cloud’s AI infrastructure by adding approximately 22,400 Nvidia H100/H200 GPUs (20,400 H100s and 2,000 H200s) and four company-owned data centers, including a major site in Maysville, Georgia.
Tether, which owns about 48% of Rumble, has committed to a $150 million GPU purchase agreement and roughly $100 million in advertising support for Rumble. Rumble will also provide $200 million in tax-liability support.
The deal, approved by both companies, is expected to close in Q2 2026 via a voluntary public exchange offer, and major Northern Data holders representing approximately 72% have committed to tender their shares.

Nov 9, 2025, 6:09 PM

DoubleVerify Reports Third Quarter 2025 Financial Results

RUM

Earnings

Guidance Update

Share Buyback

DoubleVerify reported third quarter 2025 revenue of $188.6 million, an 11% year-over-year increase, and adjusted EBITDA of $65.9 million, representing a 35% margin.
The company raised its full-year 2025 adjusted EBITDA margin guidance to approximately 33% and anticipates approximately 14% revenue growth for the full year.
DoubleVerify launched DV AI Verification and DV Authentic Advantage, along with new Streaming TV products, and expanded coverage across social media platforms including Meta Threads, Facebook, Instagram, Snapchat, and TikTok.
In the third quarter of 2025, DoubleVerify repurchased 3.3 million shares for $50.1 million, bringing total repurchases to 8.4 million shares for $132.3 million over the nine months ended September 30, 2025.