Rumble, a Nasdaq-listed video streaming platform, has agreed to acquire Northern Data, a Germany-based AI cloud infrastructure company, in an all-stock deal worth around $767m.

Presently, Northern Data is listed on the Xetra trading system (ETR) of the Frankfurt Stock Exchange.

Northern Data delivers full-stack AI and high performance computing (HPC) solutions through businesses such as Taiga Cloud and Ardent Data Centers. It has operations in various European countries and the US.

The company maintains a graphics processing unit (GPU) cluster in Europe and manages data centre facilities globally.

Under the terms of the deal, Rumble will launch a voluntary public exchange offer to all shareholders of Northern Data, giving them 2.0281 newly issued Class A Rumble shares for each Northern Data share.

The agreement follows Rumble’s announcement in August 2025, that it was considering a potential deal with Northern Data.

The boards of Rumble and Northern Data have approved the transaction, which is subject to customary regulatory clearances but does not require a minimum acceptance rate.

Key shareholders, including blockchain-enabled platform Tether and parties linked to Northern Data’s co-CEO Aroosh Thillainathan, have committed to sell their shares to Rumble at the same exchange ratio. Together, they represent about 72% of Northern Data’s outstanding shares.

Tether has agreed to become an anchor customer for the combined entity following closing. Earlier in 2025, Tether made a $775m investment in Rumble.

If all shares are tendered, Northern Data shareholders would hold approximately 30.4% of Rumble’s combined pro forma ownership.

In addition to the share exchange, there is a provision for a potential aggregate cash payment of up to $200m to participating Northern Data shareholders.

This payment is conditional on the successful sale or commercialisation milestones relating to Northern Data’s former Corpus Christi location with an infrastructure asset management firm and is based on net after-tax proceeds received prior to the closing of the offer.

Rumble chairman and CEO Chris Pavlovski said: “Northern Data. Tether. Rumble. This is how we build the AI ecosystem for the future, from the ground up.

“Freedom-First is the new way forward for tech. Unlike Big Tech, it represents a future where technology empowers rather than controls.”

Following completion of the deal, Rumble expects to expand its cloud business with access to one of Europe’s largest graphics processing unit (GPU) estates and a network of data centres.

The transaction would provide Rumble with control of 22,400 Nvidia GPUs and various owned data centre locations, including a site in Maysville, Georgia anticipated to deliver up to 180 megawatts of capacity once development concludes.

Rumble stated that acquiring Northern Data will support international expansion and accelerate developments in its AI roadmap for creator, video, and advertising services.

Northern Data co-CEO John Hoffman said: “The AI revolution requires a complete redesign of compute architecture, one that is underpinned not only by large scale GPU deployments and access to energy but a foundational commitment to individual control, customer enablement and scaled access to capital.”