In a turn of events that could only be described as a plot twist worthy of a second-rate melodrama, the illustrious stablecoin purveyor Tether has decided to join forces with none other than Rumble, the plucky underdog of the video-sharing world, in a staggering $1.17 billion escapade into the realm of artificial intelligence (AI). One can only imagine the boardroom discussions that led to this momentous decision-perhaps a few too many cups of tea and a dash of whimsy?
According to a recent blog post from Rumble, the video-sharing platform that has somehow managed to host President Donald Trump’s Truth social (a feat that deserves a medal of some sort), they are in the process of acquiring the AI firm Northern Data from Tether. But wait, there’s more! Tether, in a move that can only be described as a classic case of “you scratch my back, I’ll scratch yours,” will then become a customer of Rumble, promising to purchase a veritable mountain of graphics processing units (GPUs) over the coming years. One can only hope they have a good storage solution for all those shiny new toys!
Rumble, in its infinite wisdom, claims that this acquisition will “fundamentally transform” it into a global AI cloud leader. Quite the lofty ambition, wouldn’t you say? They plan to integrate Northern Data’s data center business, Ardent, and its GPU-as-a-service business, Taiga, which boasts a “significant” number of Nvidia GPUs. It’s all very exciting, really, and one can only hope they have a good IT department on speed dial.
While the ink on the deal has yet to dry, it appears that Tether will not only become a customer of Rumble post-acquisition but will also emerge as the single largest holder of Rumble’s class A common stock. Talk about a power play! It’s like watching a game of chess where everyone is trying to outmaneuver the other while simultaneously trying to avoid stepping on each other’s toes.
In their blog post, Rumble waxes lyrical about how this acquisition will help both firms “democratize [computing] while providing unfettered access to infrastructure.” One can only hope that this democratization doesn’t involve any actual voting, as that could get rather messy.
In a recent article, the ever-reliable Reuters has calculated that Rumble is considering offering 2.319 shares for each Northern Data share, which values Northern Data at about $18.3 per share. This represents a discount of about 32% from its last closing price, which is a bit like finding a half-eaten sandwich in the fridge-unexpected and slightly concerning.
Reuters also estimates the total value of this grand deal to be a cool $1.17 billion, noting that Tether currently holds a 48% stake in Rumble and a 54% stake in Northern Data. It’s all very cozy, like a family reunion where everyone is trying to outdo each other with their financial prowess.
Back in December 2024, Tether invested a whopping $775 million into Rumble. At that time, Tether’s chief executive, Paolo Ardoino, declared that the firm intended to integrate crypto payments into the video-sharing platform. Because, of course, what’s a video platform without a little cryptocurrency sprinkled in for good measure?
“Rumble’s dedication to fostering open communication and innovation makes them an ideal ally as we continue building the infrastructure for a more decentralized, inclusive future. Lastly, beyond our initial shareholder stake, Tether intends to drive towards a meaningful advertising, cloud, and crypto payment solutions relationship with Rumble.”
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2025-08-13 12:29