Latest news with #NorthernData
Wall Street Journal
a minute ago
- Business
- Wall Street Journal
Rumble Mulls $1.17 Billion All-Stock Deal For Northern Data
U.S. video-sharing platform and cloud services provider Rumble RUM -2.11%decrease; red down pointing triangle is mulling an all-stock bid valued at about $1.17 billion for German AI cloud computing group Northern Data. The news sent Northern Data shares as much as 29% lower in early European trade.
Reuters
5 hours ago
- Business
- Reuters
Rumble weighs near $1.2 billion bid for German AI cloud firm Northern Data
Aug 11 (Reuters) - U.S. video platform and cloud services provider Rumble (RUM.O), opens new tab is considering an offer of about $1.17 billion (1 billion euros) for German AI cloud group Northern Data ( opens new tab, according to statements from both companies. Rumble said on Sunday that a deal would give it control of Northern Data's GPU-rich cloud business, Taiga, and its large-scale data center arm, Ardent, with plans to integrate both into its own operations. The Taiga cloud unit holds a significant inventory of Nvidia GPU chips, including around 20,480 H100s and over 2,000 H200s. Northern Data said on Monday that its board is evaluating Rumble's potential offer and is open for further discussions. Rumble is considering offering 2.319 shares for each Northern Data share, both companies said. The proposed offer values Northern Data at about $18.3 per share, based on Reuters calculations, and represents a discount of about 32% to the German company's last closing price in Frankfurt. Reuters calculated the potential total deal value at approximately $1.17 billion. A deal on the current terms would result in Northern Data shareholders owning about 33.3% of Rumble's shares. Both companies said that a final offer, if made, is expected to be at a higher valuation. Stablecoin platform Tether, the majority shareholder of Northern Data, has expressed support for the transaction, according to the statements. A potential offer assumes that Northern Data's crypto mining unit will be divested prior to the completion of the deal, with proceeds from the sale used to reduce the existing loan extended by Tether to Northern Data. "Following consummation of the potential transaction, Tether would become an important customer of Rumble, with a multi-year commitment to purchase GPUs," Rumble said. However, the companies said there is no certainty that the discussions will ultimately result in a formal offer for the German group. (1 euro = $1.1664)
CNA
5 hours ago
- Business
- CNA
Rumble weighs near $1.2 billion bid for German AI cloud firm Northern Data
U.S. video platform and cloud services provider Rumble is considering an offer of about $1.17 billion (1 billion euros) for German AI cloud group Northern Data, according to statements from both companies. Rumble said on Sunday that a deal would give it control of Northern Data's GPU-rich cloud business, Taiga, and its large-scale data center arm, Ardent, with plans to integrate both into its own operations. The Taiga cloud unit holds a significant inventory of Nvidia GPU chips, including around 20,480 H100s and over 2,000 H200s. Northern Data said on Monday that its board is evaluating Rumble's potential offer and is open for further discussions. Rumble is considering offering 2.319 shares for each Northern Data share, both companies said. The proposed offer values Northern Data at about $18.3 per share, based on Reuters calculations, and represents a discount of about 32 per cent to the German company's last closing price in Frankfurt. Reuters calculated the potential total deal value at approximately $1.17 billion. A deal on the current terms would result in Northern Data shareholders owning about 33.3 per cent of Rumble's shares. Both companies said that a final offer, if made, is expected to be at a higher valuation. Stablecoin platform Tether, the majority shareholder of Northern Data, has expressed support for the transaction, according to the statements. A potential offer assumes that Northern Data's crypto mining unit will be divested prior to the completion of the deal, with proceeds from the sale used to reduce the existing loan extended by Tether to Northern Data. "Following consummation of the potential transaction, Tether would become an important customer of Rumble, with a multi-year commitment to purchase GPUs," Rumble said. However, the companies said there is no certainty that the discussions will ultimately result in a formal offer for the German group. (1 euro = $1.1664)
Economic Times
5 hours ago
- Business
- Economic Times
Rumble considers near $1.2 billion offer for German AI cloud group Northern Data
Video platform Rumble is considering a $1.17 billion bid for German AI cloud group Northern Data AG. The proposed offer would integrate Northern Data's data centre and GPU cloud businesses with Rumble's operations. Tether, Northern Data's majority shareholder, supports the transaction, though no formal offer is guaranteed. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads US-listed video platform Rumble is considering a potential offer of about $1.17 billion (€1 billion) for German AI cloud group Northern Data AG , according to separate statements from the companies and Reuters also a cloud services provider, said a deal would integrate Northern Data's data centre business and GPU cloud business with a significant number of Nvidia GPUs , into Rumble's existing is considering offering 2.319 shares for each Northern Data share, both companies exchange values Northern Data at about $18.3 per share (about €15.69 per share), based on Reuters calculations. This is at a discount of about 32% to the German company's last said its proposed offer assumes Northern Data's Peak Mining unit will be divested prior to the completion of the 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 = $1.1664)
The Star
6 hours ago
- Business
- The Star
Rumble considers near $1.2 billion offer for German AI cloud group Northern Data
(Reuters) -U.S.-listed video platform Rumble is considering a potential offer of about $1.17 billion (1 billion euro) for German AI cloud group Northern Data AG, according to separate statements from the companies and Reuters calculations. 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) (Reporting by Surbhi Misra and Shubham Kalia in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)
