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Rumble to Acquire AI Company Northern Data With Tether Support

Key Takeaways

  • Rumble plans to buy Germany’s Northern Data in an $800 million share deal to strengthen its AI and cloud technology operations;
  • Tether, which already controls Northern Data, is backing the acquisition and investing further to expand AI development;
  • Alongside the deal, Tether will purchase $150 million in GPUs from Rumble to build a global, independent AI network for creators.

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Rumble to Acquire AI Company Northern Data With Tether Support

Rumble, a video platform known as an alternative to YouTube, has announced plans to acquire Northern Data, a German company focused on artificial intelligence (AI) and high-performance computing.

The deal is supported by Tether USDT $1.00 , which already holds a controlling interest in Northern Data.

According to the agreement, Northern Data shareholders will receive 2.0281 new Class A Rumble shares for each Northern Data share they own. The deal is valued at about $800 million and will take effect once Rumble’s share exchange offer is complete.

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Rumble said the purchase will give it access to Northern Data’s graphics processing units (GPUs) and help expand its cloud services.

The company, which promotes itself as a "freedom-first technology platform", noted that the acquisition will strengthen its AI and data infrastructure.

Rumble CEO Chris Pavlovski said, "At Rumble, with the exchange offer for Northern Data, we will be in a position to expand our partnership with Tether, supply them as an anchor customer on our freedom-first AI infrastructure and help them execute on their game-changing AI plans rooted in privacy, independence and resilience".

Alongside the acquisition, Tether announced it would buy $150 million worth of GPUs from Rumble. The goal is to develop tools that support global content creators and to build an AI network that operates independently from cloud providers.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
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Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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