Core Insights - Rumble Inc. has entered into a significant GPU services agreement with Tether, committing to purchase up to $150 million over two years following Rumble's exchange offer for Northern Data AG [1][3] - This partnership aims to enhance Tether's AI capabilities, allowing for the development of a decentralized AI ecosystem that operates independently of major cloud providers [2][3] Company Overview - Rumble is described as a Freedom-First technology platform focused on protecting a free and open internet, encompassing cloud, AI, and digital media services [4] - Tether is recognized as the creator of the most widely used stablecoin and is involved in building decentralized financial and technological infrastructures [5] Strategic Implications - The GPU commitment is a strategic move for Tether to secure high-performance computing resources, which are essential for advancing its AI initiatives [2] - The collaboration with Rumble positions Tether to leverage Northern Data's GPU clusters for training AI models, promoting content creator empowerment while ensuring operational independence [2][3]

Core Insights - Rumble Inc. has signed a business combination agreement with Northern Data AG, which will enhance Rumble Cloud's portfolio by adding approximately 22,000 Nvidia GPUs and a globally distributed network of data centers [1][13] - The transaction is a significant step towards Rumble's vision of a Freedom-First technology platform, emphasizing freedom, privacy, independence, and resilience in technology [1][3] - Following the completion of the exchange offer, Northern Data will be delisted [1] Group 1: Transaction Overview - The business combination will allow Rumble to scale its cloud business and expand internationally, providing significant revenue growth opportunities [2][10] - Rumble will offer 2.0281 newly issued Class A shares for each Northern Data share, resulting in approximately 30.4% pro forma ownership for Northern Data shareholders [10][39] - Tether has committed to becoming an anchor customer of the combined group after the closing of the transaction [8] Group 2: Strategic Benefits - The transaction will create one of the largest GPU estates in Europe, enhancing Rumble's capabilities in AI and high-performance computing [2][13] - Rumble aims to accelerate innovation in its video business and expand its creator, video, and advertising AI roadmap with the new GPU resources [9][10] - The combined entity will focus on building a full-stack cloud platform, enhancing its mission to protect a free and open internet [6] Group 3: Future Vision - Rumble's Freedom-First initiative aims to empower individuals rather than allowing control by large tech companies, promoting a future rooted in free speech and privacy [4][5] - The transaction is expected to facilitate the development of new verticals, including financial services and AI solutions, furthering Rumble's ecosystem [5][10] - Rumble's strategic partnership with Tether and Northern Data positions it as a disruptive force in the AI infrastructure market [5][18]

Core Viewpoint - Video platform Rumble has made an offer to acquire Northern Data, a German AI cloud company [1] Company Summary - Rumble is actively pursuing an acquisition strategy to expand its capabilities by targeting Northern Data, which specializes in AI cloud services [1] - Northern Data's expertise in AI cloud technology may enhance Rumble's offerings and competitive position in the market [1]

Core Insights - Rumble Inc. reported a revenue of $24.8 million for Q3 2025, a slight decrease of 1% compared to $25.1 million in Q3 2024 [5][22] - The company experienced a decrease in Monthly Active Users (MAUs) to 47 million in Q3 2025 from 51 million in Q2 2025, attributed to seasonal content creation trends and a slowdown in news and political commentary [5][11] - Average Revenue Per User (ARPU) increased by 7% to $0.45 in Q3 2025, driven by higher audience monetization revenue despite fewer MAUs [5][13] - Rumble's net loss for Q3 2025 was $16.3 million, an improvement from a loss of $31.5 million in Q3 2024 [5][24] - The company maintained a strong liquidity position with over $290 million, including $269.8 million in cash and cash equivalents and Bitcoin valued at $24 million [5][22] Financial Performance - Total revenues for the three months ended September 30, 2025, were $24,762,445, down from $25,056,904 in the same period of 2024, reflecting a variance of $(294,459) or (1%) [4][22] - Cost of services decreased significantly by 31% to $25,219,331, primarily due to a reduction in programming and content costs [4][7] - General and administrative expenses rose to $10,492,008, an increase of $0.8 million compared to the previous year, driven by higher professional fees [4][8] - Research and development expenses decreased slightly to $4,455,354, while sales and marketing expenses increased by 28% to $5,076,937 [4][9][10] Strategic Developments - Rumble announced a strategic partnership with Cumulus Media on August 5, 2025, aimed at expanding distribution and monetization opportunities [5] - On October 2, 2025, Rumble partnered with Perplexity to enhance video discoverability through AI-driven search capabilities [5] - The platform was fully restored in France following a favorable court ruling on October 14, 2025 [5] - A subscription bundle combining Rumble Premium and Perplexity Pro was launched on October 15, 2025, priced at $19.99 per month [5] Key Performance Indicators - Monthly Active Users (MAUs) decreased to 47 million in Q3 2025 from 51 million in Q2 2025, indicating a decline in user engagement [5][11] - The company reported an Adjusted EBITDA loss of $15.1 million for Q3 2025, an improvement of $8.4 million compared to the same quarter in 2024 [5][31] - The net loss per share for Q3 2025 was $(0.06), compared to $(0.15) in Q3 2024 [24]

Group 1 - Rumble Inc. is pursuing an all-stock acquisition offer for Northern Data AG, valuing the target company below its current market capitalization of $894 million [1] - The deal is supported by Tether Holdings Ltd, and an announcement may come in the next few days [1] - If successful, the acquisition will enable Rumble to enter the cloud computing service provider sector [1] Group 2 - The initial plan was to create a merged entity valued at approximately $4.5 billion, with Northern Data shareholders holding one-third of Rumble's shares [2] - Due to significant declines in stock prices, the current valuation of the new entity is estimated at $2.9 billion [2] - Northern Data is under criminal investigation regarding potential fraud related to tax benefits claimed for GPU purchases, which may have been used for cryptocurrency mining instead of AI [2] Group 3 - Northern Data recently announced the sale of its cryptocurrency mining division, Peak Mining, for up to $200 million to an undisclosed buyer, who is also linked to Tether [2] - The sale comes amid pressure from Tether to repay a €575 million loan [2]

Group 1 - Rumble, a video platform, is advancing with an all-share offer to acquire Northern Data, a German company [1]

Group 1: US Political Landscape and Economic Concerns - The potential government shutdown could severely disrupt US air travel during the Thanksgiving holiday, affecting millions of travelers and the economy [2][8] - Bipartisan discussions are ongoing in the Senate to find a resolution to prevent a prolonged government shutdown [3][8] Group 2: Corporate Acquisitions and Tech Sector Moves - Rumble Inc. (RUM) is pursuing an all-share offer to acquire Northern Data AG, a German data center company, with a proposed valuation below its current market capitalization of $894 million [4][8] Group 3: Middle East Diplomacy and Regional Tensions - Jared Kushner is in Israel to meet with Prime Minister Netanyahu regarding the Gaza agreement, amidst reports of an Israeli airstrike in Southern Lebanon [5][6][8] Group 4: Iraq's Electoral Process - Iraq's Supreme Security Committee for Elections praised the recent electoral process, noting a special voting turnout ratio exceeding 80% and describing the elections as the best in terms of security and execution [7][8]

Core Viewpoint - Rumble Inc. is set to release its financial results for the fiscal quarter ending September 30, 2025, on November 12, 2025, after market close, followed by a conference call at 5:00 p.m. Eastern Time [1]. Company Overview - Rumble is a high-growth video-sharing platform and cloud services provider, founded in 2013 by Chris Pavlovski, aiming to create an independent infrastructure resistant to cancellation or censorship by major tech companies [3]. - The company's mission is to restore the internet to its foundational principles by promoting a free and open online environment [3].

Core Insights - Rumble is integrating Bitcoin tipping in collaboration with Tether, with a full rollout expected by early to mid-December [1][2] - Rumble has approximately 51 million active users as of Q2, a decrease from 59 million in Q1 [1] - Tether's CEO highlighted the potential for Bitcoin and stablecoins to empower creators and provide financial security [3] Company Developments - Rumble is currently in the testing phase for Bitcoin tipping and plans to launch it soon [1] - The company has partnered with MoonPay to develop its own crypto wallet, aimed at enhancing the creator experience [3] - Rumble adopted a Bitcoin treasury strategy last year, investing up to $20 million in BTC, and currently holds around $25 million in Bitcoin [4] Financial Performance - Rumble's shares closed at $7.14, reflecting a 0.56% increase, but are down over 45% year-to-date [4] - The company added $17.1 million in BTC to its balance sheet in March, following its initial investment strategy [4]

Core Insights - Rumble has launched a subscription bundle that combines Rumble Premium and Perplexity Pro, enhancing user experience through AI-powered tools [1][3] - The subscription bundle is offered at a promotional price of $19.99 per month, down from a combined value of $29.99 per month, available until December 31, 2025 [2] Company Overview - Rumble is a high-growth video-sharing platform and cloud services provider, founded in 2013, aiming to create an independent infrastructure resistant to censorship by major tech companies [4] - Perplexity, founded in 2022, is an AI-powered answer engine that provides accurate answers and deep research from credible sources, answering over 150 million questions globally each week [4]