Tether and Rumble Eye $1.17 Billion Northern Data Acquisition in Major AI Push

Tether, the issuer of the world's largest stablecoin, is orchestrating a potential $1.17 billion acquisition of Northern Data by Rumble, signaling a bold move into the AI infrastructure race. The deal WOULD grant Northern Data shareholders 2.319 Rumble shares per owned share, valuing the target at an 18.27 per share—a 32% discount to its recent Frankfurt listing.

Rumble's stock surged 20% in pre-market trading following the announcement, reflecting investor optimism about the combined entity's ability to challenge cloud giants like AWS and Microsoft Azure. Northern Data's portfolio of thousands of GPUs positions the merged company as a serious contender in the AI compute space.

The transaction remains contingent on due diligence, board approvals, and regulatory clearances across US and German jurisdictions. Tether's strategic involvement as majority shareholder of Northern Data and key investor in Rumble creates a unique synergy, building on its $775 million investment in Rumble earlier this year.