Rumble considers near $1.2 billion offer for German AI cloud group Northern Data
Rumble, also a cloud services provider, said a deal would integrate Northern Data's data center business and GPU cloud business with a significant number of Nvidia GPUs, into Rumble's existing operations.
Rumble is considering offering 2.319 shares for each Northern Data share, both companies said.
The exchange values Northern Data at about $18.3 per share (about 15.69 euros per share), based on Reuters calculations. This is at a discount of about 32% to the German company's last close.
Rumble said its proposed offer assumes Northern Data's Peak Mining unit will be divested prior to the completion of the deal.
Tether, the majority shareholder of Northern Data, has expressed support for the transaction, according to the statements. However, the companies said there is no certainty that the discussions will eventually result in a formal offer for the German group.
(1 euro = $1.1664)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
Oil prices fall as investors focus on US-Russia talks
Oil (BZ=F, CL=F) Oil prices fell in early European trading on Monday, as investors eyed talks between the US and Russia over the war in Ukraine, which are due to take place on Friday. Brent crude (BZ=F) futures were down 0.8% to $64.99 per barrel at the time of writing, while West Texas Intermediate futures (CL=F) declined 1% to $63.25 a barrel. US president Donald Trump said on Friday that he would meet Russian president Vladimir Putin in Alaska on 15 August to negotiate an end to the war in Ukraine. Read more: FTSE 100 LIVE: Stocks mixed as traders brace for Trump-Putin meet and US-China trade deadline The announcement of the meeting has fuelled expectations of a potential end to sanctions limiting supply of Russian oil to other markets. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "There are hopes that Trump and Putin's meeting in Alaska later this week will help push the Ukraine conflict to a resolution, which is helping calm concerns over energy supply disruptions. "Threats of extra tariffs on India, which buys Russian crude, pushed up oil prices, but they are in retreat amid expectations the meeting could pave the way for the lifting of sanctions on Russia." "As traders mull the effect on global growing in the tariff era, forecasts for lower energy demand are also acting as a drag on prices," she said. Gold (GC=F) Gold prices dropped on Monday morning, retreating after hitting fresh highs at the end of last week, amid hopes of easing geopolitical tensions. Gold futures (GC=F) slid 2% to $3,418.80 per ounce at the time of writing, while spot gold tumbled 1.1% to $3,359.14. This comes after the precious metal surged to new highs on Friday, following reports of a potential US tariff on 1kg gold bars. However, an official later told Reuters that the White House planned to issue an executive order "clarifying misinformation" about tariffs on gold bars and other speciality products in the near future. Read more: Trending tickers: Nvidia, Tesla, SoftBank, and Bitmine Hargreaves Lansdown's Streeter said that "there is still uncertainty hanging around the market, surrounding concerns about gold bar imports into the US being taxed. This sent the wave of turmoil through the US gold futures market on Friday, pushing prices to record levels." Pound (GBPUSD=X, GBPEUR=X) The pound was little changed against the dollar (GBPUSD=X) on Monday morning, trading at $1.3458 at the time of writing, as investors weighed geopolitical developments and looked ahead to economic data releases. In addition to focus on talks between the US and Russia, the market spotlight is also on Tuesday's deadline for the pause in levies between the US and China, with investors watching to see if the truce on duties is extended. Meanwhile, the US is due to release its latest consumer prices index (CPI) data on Tuesday, followed by the producer prices index (PPI) reading on Thursday. Neil Wilson, UK investor strategist at Saxo Markets, said: "CPI is the big one for the Fed – core inflation is expected to rise 0.3% month-on-month in July, with market participants closely watching Fed policy implications. "Core inflation picked up 0.2% last month, with the annual rate moving to 2.9%. The headline rate was 2.7% having risen from 2.4% since April and is expected to hit 2.8%." "The closer it gets to 3% the harder it is for the Fed," he said. "The Cleveland Fed's Inflation Nowcasting model CPI at 3% in July and August, too hot for the Fed to ease as the markets price." In the UK, employment data is set to be released on Tuesday, followed by economic growth figures on Thursday. Thomas Watts, senior investment analyst at Aberdeen MPS, said: "With the UK labour market having proven remarkably resilient in the face of rising rates and the increase in NIC [national insurance contributions] and minimum wage, the first half of the week will give us the opportunity to check the employment landscape for weaknesses, with both the average hourly earnings index and unemployment claimant count coming out on Tuesday. Read more: Stocks to watch this week: CoreWeave, Cisco, Aviva, Entain and Persimmon "Measuring the change in the number of people claiming unemployment related benefits during the previous month, claimant counts can be particularly useful, the figures are crucial in understanding the strength of the overall market as the figures contribute strongly to the unemployment picture." "Giving us a more comprehensive view of the domestic economy, later in the week the ONS [Office for National Statistics] will also release its monthly gross domestic product data, the broadest gauge of economic health," he added. "With the UK economy having bounced back quicker and stronger than many expected, both those in the City of London and Westminster will hope there are no clouds on the horizon." In other currency moves, the pound was also little changed against the euro (GBPEUR=X), trading at €1.1544 at the time of writing. In broader market movements, FTSE 100 (^FTSE) rose 0.1% on Monday morning to 9,113 points. For more details, on market movements check our live coverage here. Read more: What having children later in life means for your money UK high street footfall suffers as consumers spend on leisure instead Rachel Reeves is under pressure to balance the books. This chart shows the scale of UK debt Create your watchlist and portfolioError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 minutes ago
- Yahoo
Are Wall Street Analysts Bullish on Nasdaq Stock?
New York-based Nasdaq, Inc. (NDAQ) operates as a leading provider of trading, clearing, marketplace technology, securities listing, information, and other services. With a market cap of $55.6 billion, Nasdaq operates through Capital Access Platforms, Financial Technology, and Market Services segments. The company has significantly outperformed the broader market over the past year. NDAQ stock has soared 42.3% over the past 52 weeks and 25.3% on a YTD basis, compared to the S&P 500 Index's ($SPX) 20.1% surge over the past year and 8.6% returns on a YTD basis. More News from Barchart 'It Will Be the Biggest Product Ever': Elon Musk Says Tesla's Optimus Robots Will Be Bigger Than Even Robotaxi Dear Archer Aviation Stock Fans, Mark Your Calendars for August 11 Dear Plug Power Stock Fans, Mark Your Calendars for August 11 Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Narrowing the focus, Nasdaq has also outperformed the Financial Select Sector SPDR Fund's (XLF) 22.8% gains over the past year and 7.3% returns on a YTD basis. Nasdaq's stock prices surged 5.9% in the trading session following the release of its impressive Q2 results on Jul. 24. Driven by solid organic growth, the company's revenues net of transaction expenses surged 12.7% year-over-year to $1.3 billion, beating the consensus estimates by a notable margin. Furthermore, driven by continued improvement in margins, its non-GAAP net earnings for the quarter grew 23.9% year-over-year to $492 million, and adjusted EPS of $0.85, surpassed the Street's expectations by 6.3%. For the full fiscal 2025, ending in December, analysts expect NDAQ to deliver an adjusted EPS of $3.30, up 17% year-over-year. The company has a solid earnings surprise history. It has surpassed the Street's bottom-line estimates in each of the past four quarters. The stock has a consensus 'Strong Buy' rating overall. Of the 20 analysts covering the stock, opinions include 13 'Strong Buys,' three 'Moderate Buys,' and four 'Holds.' This configuration is slightly more optimistic than a month ago, when 12 analysts gave 'Strong Buy' recommendations and the stock had a consensus 'Moderate Buy' rating overall. On Aug. 4, Piper Sandler analyst Richard Repetto maintained an 'Overweight' rating and raised the price target from $97 to $104. NDAQ's mean price target of $103.17 represents a 6.5% premium to current price levels. Meanwhile, the street-high target of $115 suggests a notable upside potential of 18.7%. On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 minutes ago
- Yahoo
Swiss Economy Seen Weathering Trump's Tariff Shock for Now
(Bloomberg) — Switzerland's economy will prove resilient enough to largely shake off the shock of US tariffs over the next year or so, according to a Bloomberg survey of economists. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Three Deaths Reported as NYC Legionnaires' Outbreak Spreads A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms Forecasters have cut their projections for annual growth, adjusted for large sport events, by just 0.1 percentage point for 2025 and 2026. Expansion will be 1.4% and 1.1% for each year respectively, the median of eight respondents shows. The economists do expect weakness in the near term after a growth spurt at the start of the year, driven by export frontloading in anticipation of US President Donald Trump's global levies. They predict growth data on Friday will probably show a small contraction in the second quarter, before a pickup takes hold toward the end of the year. 'We don't see a recession in Switzerland at all,' said Jean Dalbard of Bloomberg Economics. 'The economy is not roaring, but it's still growing.' Switzerland is reeling from the imposition of a 39% tariff, which is the highest in the developed world. While that levy has now taken effect, the country is keeping up efforts to negotiate with the US, raising the prospect that it could yet change. Meanwhile Trump has also threatened to tax pharmaceutical imports, which would be a further shock. 'In Switzerland, severe job losses are all but certain in the coming months, if there is no swift resolution to the US tariff shock,' Bank J Safra Sarasin Ltd Chief Economist Karsten Junius wrote in a note on Friday. 'It is clear that this would make many Swiss manufacturing companies uncompetitive in the US market and drive out production to neighboring EU countries.' If levies were to stay at the high level for a longer period of time, this would also increase the chance of Swiss National Bank policymakers introducing negative interest rates, Junius added, after they cut borrowing costs to zero in June. So far, the expectation prevails that a solution with will be found in a fairly short time, however. In the survey, a majority of forecasters still expect the SNB benchmark to stay at zero through the end of 2027. That's unchanged from before last week's tariff introduction. 'Our base-case assumption is that US tariffs will return to 15% in the foreseeable future — the worst case is that there won't be a deal in the next few weeks but only next year,' said Matteo Mosimann, an economist at UBS Group AG. 'If pharma tariffs are introduced, we would have to reconsider our growth forecasts.' To assess what such would mean for the key Swiss export industry, the government plans to hold talks with top executives of local drug giants Roche Holding AG and Novartis AG. (Updates with UBS economist from eighth paragraph.) The Game Starts at 8. The Robbery Starts at 8:01 The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing It's Only a Matter of Time Until Americans Pay for Trump's Tariffs Russia's Secret War and the Plot to Kill a German CEO ©2025 Bloomberg L.P. Sign up for the Yahoo Finance Morning Brief By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
