Rumble acquires AI company Northern Data for $1.17 billion in stock, supported by Tether

video sharing platform Rumble (NASDAQ: RUM) will acquire the German artificial intelligence company Northern Data for approximately $1.17 billion. The transaction is expected to be completed by the end of 2025 and will be conducted as an all-stock deal.

The deal has the support of Northern Data's largest shareholder, Tether, and is contingent upon the sale of its subsidiary Peak Mining to repay Tether's loans. After the transaction is completed, Tether will become one of Rumble's largest Class A shareholders and plans to engage in a long-term GPU collaboration with it.