Video sharing platform Rumble (RUM) gained on Monday on plans to acquire cloud computing firm Northern Data in an all-stock deal, which would see the two firms stablecoin issuer Tether (USDT) invested in merging into one.

If the deal proceeds, Rumble would give 2.319 newly-issued shares for each Northern Data share. Northern Data shareholders would own roughly one-third of the combined company.

Rumble would integrate Northern Data’s Ardent data center business and Taiga GPU-as-a-service operations, adding more than 20,000 Nvidia H100 GPUs and 2,048 H200s to its cloud infrastructure. Northern Data’s five owned data centers, with potential energized capacity of about 850 MW, include a Georgia facility expected to deliver 180 MW when complete.

Tether, which holds about 54% stake of Northern Data, agreed in principle to swap its shares for Rumble stock and commit to multi-year GPU purchases from Rumble. The stablecoin issuer also plans to amend its loan to Northern Data to ease financial pressure post-merger. The deal would see Tether becoming the largest single shareholder of Rumble's Class A common stock following its $775 million investment in the company February.

Rumble CEO Chris Pavlovski, who would retain voting control, said the acquisition could position the company as a global leader in AI-focused cloud computing while emphasizing privacy and independence in infrastructure.

The announcement coincided with Rumble reporting rising revenues and a loss of $30.2 million, or 12 cents a share, in the second quarter.

Rumble's stock jumped as much as 20% pre-market before giving back some of the gains during the Monday session, trading 7% higher from Friday's close.

Northern Data shares, traded on European exchanges, closed the day almost 20% lower.

Read more: Rumble Taps MoonPay for Crypto Wallet Ahead of Q3 Launch

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