Mentioned:
Rumble has big ambitions for artificial intelligence. Which is exactly why they’ve just acquired one of Europe’s largest high performance computing companies.
What’s happening:
- Rumble (NASDAQ: RUM) has successfully completed their acquisition of high performance computing infrastructure company Northern Data AG
By the numbers:
- Rumble now owns approximately 85% of all the equity in Northern Data AG
Why it matters:
- Northern Data AG is one of the largest high performance computing companies in Europe and operates roughly 22,000 Nvidia (NASDAQ: NVDA) GPUs
Going deeper:
- Tether was notably one of the single largest shareholders of Northern Data AG and owned approximately 54% of the company prior to being acquired by Rumble
- Rumble just recently made waves when they struck a $270M USD deal to provide high performance computing and host artificial intelligence workloads
The intrigue:
- Tether is also a large shareholder of Rumble and previously completed a $775M USD strategic equity financing into Rumble which was done at $7.50 USD per share
