Core Insights - Rumble shares experienced a significant jump of 18% following the announcement of a partnership with Perplexity to integrate its AI-powered search engine into Rumble's platform [1][2][6] - Despite the recent surge, Rumble's stock had previously lost over 40% of its value this year, indicating a volatile market performance [1][6] - The integration of AI-powered search capabilities is aimed at enhancing content discoverability on Rumble, which is crucial for competing against dominant platforms like YouTube [2][3] Company Performance - Rumble reported a net loss of $30.2 million in the second quarter, highlighting ongoing financial challenges [4] - The partnership with Perplexity is expected to bundle subscription offerings and promote Perplexity's Comet AI assistant within Rumble's ecosystem [3] Industry Context - The video-sharing industry is highly competitive, with Rumble positioning itself as a conservative alternative to mainstream platforms [2] - Perplexity's search technology aims to improve user engagement by efficiently connecting viewers with relevant content, a challenge faced by all video platforms [4]

Group 1 - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 350 points on Friday [1] - White Mountains Insurance Group announced plans to sell a controlling interest in its technology-driven homeowners' insurance distribution platform, Bamboo, to CVC Capital Partners, leading to a significant rise in its stock price [1][2] - The deal values Bamboo at $1.75 billion, and the company specializes in data-enabled underwriting and distribution for the residential property market in California and Texas [2] Group 2 - White Mountains Insurance Group shares surged by 9.2%, reaching $1,817.83 on Friday following the announcement of the Bamboo deal [2] - Other notable stock gains included Anbio Biotechnology, which rose by 69.6% to $43.07, and Lithium Americas Corp., which increased by 29.1% to $8.85 [4] - USA Rare Earth, Inc. shares climbed 21.4% to $27.56 amid reports of discussions with the White House [4]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - Xcel Brands, Inc. (XELB) increased by 48% to $2.57 [3] - Astrotech Corporation (ASTC) rose by 21% to $5.85 [3] - Rumble Inc. (RUM) saw a 13% increase to $8.36 [3] - ClearPoint Neuro, Inc. (CLPT) gained 9% reaching $27.38 [3] - USA Rare Earth, Inc. (USAR) also increased by 9% to $24.92 [3] - Q/C Technologies, Inc. (QCLS) rose by 8% to $5.51 [3] - Lazydays Holdings, Inc. (GORV) increased by 8% to $2.61 [3] - K Wave Media Ltd. (KWM) saw a 7% rise to $2.78 [3] - Galectin Therapeutics Inc. (GALT) increased by 6% to $4.53 [3] - Wrap Technologies, Inc. (WRAP) rose by 6% to $2.86 [3] Premarket Losers - Black Titan Corporation Ordinary Shares (BTTC) decreased by 29% to $16.80 [4] - Masonglory Limited (MSGY) fell by 14% to $2.54 [4] - Aspire Biopharma Holdings, Inc. (ASBP) declined by 12% to $0.37 [4] - Urban One, Inc. (UONE) saw an 11% drop to $1.15 [4] - Reitar Logtech Holdings Limited (RITR) decreased by 7% to $2.74 [4] - Iveda Solutions, Inc. (IVDA) fell by 7% to $1.88 [4] - Erayak Power Solution Group Inc. (RAYA) decreased by 6% to $4.93 [4] - Megan Holdings Limited (MGN) saw a 6% drop to $3.32 [4] - Werewolf Therapeutics, Inc. (HOWL) declined by 5% to $1.81 [4] - SOS Limited (SOS) decreased by 4% to $2.04 [4]

Company Updates - Actelis Networks Inc. announced a new contract valued at approximately 5.45% of the company's current market capitalization, resulting in a 43.2% increase in share price to $0.53 in after-hours trading [2] - XCel Brands Inc. reached a settlement agreement and equity transfer deal with the Securities and Exchange Commission, leading to a 66.5% surge in share price to $2.88 in after-hours trading [2] - Rumble Inc. formed a partnership with Perplexity to integrate AI-powered tools, causing shares to rise by 11.4% to $8.23 in after-hours trading [2] - Theriva Biologics Inc. announced plans to reduce its workforce by 32%, which resulted in a 2.1% decline in share price to $0.40 in after-hours trading [2] - Open Text Corp agreed to divest its on-premise solution (eDOCS) from its Analytics portfolio to NetDocuments for $163 million, leading to a 0.8% decrease in share price to $37.36 in after-hours trading [2]

Core Insights - Rumble has announced a strategic partnership with Perplexity to enhance video discovery on its platform through AI tools [1][2][3] - The collaboration includes a new subscription bundle that combines Rumble Premium with Perplexity Pro, along with an advertising commitment to promote Perplexity's AI-powered browser, Comet [1][2][4] Partnership Initiatives - The partnership will integrate Perplexity's AI search technology into Rumble.com to improve content discoverability for creators and viewers [3][5] - A subscription bundle will be introduced, combining Rumble Premium with Perplexity Pro, aimed at enhancing user engagement [2][6] Product Development - The integration of Perplexity's search technology is expected to roll out progressively, coinciding with the launch of the subscription bundle and promotion of the Comet browser [6] - Comet is designed to transform user interaction with web content by providing contextual assistance and intelligent search capabilities [4][5] Industry Context - The collaboration reflects a broader industry trend towards AI-enhanced discovery and engagement tools in digital media consumption [5]

Group 1 - Rumble Resources Inc. has announced a two-for-one stock split of its issued and outstanding common shares [1][2][3] - Each shareholder of record as of the close of business on the record date will receive one additional share for each share held [1][2][3] - Upon completion of the split, there will be approximately 34,854,000 shares issued and outstanding [1][2][3] Group 2 - All open orders will be purged from the book at the market close on August 25, 2025 [2][3] - Dealers are reminded to re-enter their orders after the market close [2][3] - Trading on a split basis will commence on August 26, 2025 [4]

Group 1 - Rumble is considering an all-stock acquisition of Northern Data AG, valuing the latter at approximately $1.17 billion [1] - The proposed exchange ratio is 2.319 shares of Rumble stock for each share of Northern Data, valuing Northern Data at about $18.27 per share, which is a significant discount compared to its last closing price of €23.02 ($26.81) [1] - Post-transaction, Northern Data shareholders will own about one-third of the combined company, which is estimated to be worth around $4.5 billion [1] Group 2 - Northern Data initially operated as a cryptocurrency mining company but has shifted focus to providing services to companies developing AI tools, capitalizing on the high demand for computing power in this sector [2] - Rumble, which went public in 2022, has recently entered the cloud market to compete against well-funded Silicon Valley giants, launching cloud services aimed at other businesses [2] - Tether, a privately held digital asset company and a major shareholder in both companies, supports the transaction, having invested in Northern Data last year and acquired a stake in Rumble in February [2] - The transaction is contingent upon Northern Data completing the sale of its cryptocurrency mining business, with a non-binding agreement signed with Elektron Energy LP for this sale [2]

Financial Data and Key Metrics Changes - The company reported revenues of $25,100,000, representing a 12% increase year over year, driven by a $1,700,000 increase in audience monetization revenues and a $900,000 increase in other initiatives [21][22] - Adjusted EBITDA loss improved to $20,500,000 compared to a loss of $28,700,000 last year, an $8,200,000 improvement primarily related to the increase in revenue and expiration of programming and content agreements [22] - The company ended the quarter with total liquidity of $306,400,000, including $283,800,000 in cash and cash equivalents and $22,600,000 in Bitcoin holdings [23] Business Line Data and Key Metrics Changes - Audience monetization revenue increased due to Rumble Premium and local subscriptions, licensing, and tipping, offset by a decline in advertising revenue [21] - ARPU increased to $0.42, up 24% sequentially, indicating enhanced monetization strategy attributable to higher subscription and licensing revenue [22] Market Data and Key Metrics Changes - The company maintained 51,000,000 MAUs, marking the eighth consecutive quarter above the 50,000,000 mark, and showing growth compared to the post-midterm elections number in Q2 2023 [9] - The company is seeing increased interest in its cloud business, entering RFP processes with multiple governments and corporate entities, competing with major players like Amazon and Google [50] Company Strategy and Development Direction - The company is focused on M&A strategy and evaluating strategic opportunities, including a potential acquisition of AI company Northern Data [5][6] - The launch of Rumble Wallet is anticipated to drive growth for Rumble's video platform, both domestically and internationally, with a focus on onboarding new creators [15][19] - The company aims for aggressive growth while protecting a free and open Internet, leveraging partnerships, particularly with Tether [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of advertising revenue, indicating that CPMs are expected to rise in future quarters [28] - The company is optimistic about the impact of Rumble Wallet on MAU growth, especially in international markets [45][46] - Management highlighted the importance of partnerships in driving future growth and the positive momentum in building out these partnerships [12][16] Other Important Information - The company is experiencing a shift in corporate America, which is seen as a potential tailwind for growth, with notable partnerships being formed [10][11] - The company is actively working on integrating AI into its cloud business, which is viewed as a significant growth opportunity [17][18] Q&A Session Summary Question: Update on advertising growth and RAC - Management confirmed that advertising remains a high priority and is seeing increased publisher inventory coming into RAC, indicating potential growth opportunities [28][29] Question: Onboarding new creators - The company plans to onboard creators using Rumble Studio, which allows multi-streaming across platforms, incentivizing them to promote Rumble Wallet [30][31] Question: Path to positive gross profit and EBITDA - Management indicated that with current financial resources and partnerships, the company is moving towards adjusted EBITDA breakeven, though aggressive growth remains a priority [34][35] Question: MAU evolution and ARPU growth - Management expressed satisfaction with MAU growth, especially without the presence of a major creator, and attributed ARPU growth to successful execution of Rumble Premium [39][40] Question: Marketing initiatives for Rumble Wallet - The marketing strategy will involve both Rumble creators and off-platform initiatives to drive growth for both Rumble Wallet and the video platform [42][43]

Financial Data and Key Metrics Changes - The company reported revenues of $25,100,000, representing a 12% year-over-year increase, driven by a $1,700,000 increase in audience monetization revenues and a $900,000 increase in other initiatives [19][20] - Adjusted EBITDA loss improved to $20,500,000 compared to a loss of $28,700,000 last year, marking an $8,200,000 improvement [20] - The company ended the quarter with total liquidity of $306,400,000, including $283,800,000 in cash and cash equivalents and $22,600,000 in Bitcoin holdings [21] Business Line Data and Key Metrics Changes - Audience monetization revenue increased due to growth in Rumble Premium and local subscriptions, offset by advertising revenue [19] - ARPU increased to $0.42, up 24% sequentially, indicating enhanced monetization strategies [20] Market Data and Key Metrics Changes - The company maintained 51,000,000 MAUs, marking the eighth consecutive quarter above the 50,000,000 mark, and showing growth compared to the post-midterm elections Q2 2023 number [8] Company Strategy and Development Direction - The company is focused on M&A strategy, with a potential acquisition of AI company Northern Data to enhance its cloud business and democratize compute [5][6] - The launch of Rumble Wallet is anticipated to drive growth for Rumble's video platform, both domestically and internationally [12][14] - The company aims to expand partnerships, particularly with Tether, to support aggressive growth while maintaining a free and open Internet [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of advertising revenue and the potential for CPMs to increase in future quarters [27] - The company is optimistic about the impact of Rumble Wallet on international growth and creator onboarding [46][48] Other Important Information - The company has inked strategic partnerships with Cumulus Media and a leading AI player, enhancing its advertising and technology integration capabilities [11] - The company is actively pursuing RFP processes with multiple governments and corporate entities, indicating significant interest in its cloud services [53] Q&A Session Summary Question: Update on advertising growth and RAC - Management confirmed that advertising remains a high priority and noted increased publisher inventory coming into RAC, indicating potential growth opportunities [29] Question: Onboarding more creators - The company plans to use Rumble Studio to attract creators, offering them incentives to promote Rumble Wallet, which is expected to drive creator growth [30][32] Question: Path to positive gross profit and EBITDA - Management indicated that with strong financial resources and partnerships, the company is moving towards adjusted EBITDA breakeven, though aggressive growth remains a priority [34] Question: MAU evolution and ARPU growth - Management expressed satisfaction with MAU growth, especially without the influence of a major creator, and attributed ARPU growth to successful execution of Rumble Premium [40][41] Question: Marketing initiatives for Rumble Wallet - The marketing strategy will involve both Rumble creators and off-platform initiatives to drive growth for Rumble Wallet and the video platform [43][44]

Group 1 - Rumble is considering acquiring Northern Data for approximately $1.17 billion (1 billion euros) to gain control over its GPU-rich Taiga cloud business and large data center division Ardent [1] - The Taiga cloud division has a significant inventory of NVIDIA GPUs, including about 20,480 H100 chips and over 2,000 H200 chips [1] - The proposed transaction values Northern Data at approximately $18.3 per share, representing a discount of about 32% from its recent closing price on the Frankfurt Stock Exchange [1] Group 2 - Northern Data's board is evaluating Rumble's acquisition proposal and is open to further discussions [1] - The final offer is expected to reflect a higher valuation, with Northern Data's major shareholder, Tether, expressing support for the transaction [2] - A condition for the potential deal is that Northern Data must divest its cryptocurrency mining business before closing, with proceeds used to repay existing loans from Tether [2]