Markets
What to know:
- Rumble’s stock surged 13% as crypto company Tether increased its stake by purchasing 1 million shares last week.
- The rally was buoyed by gains in data center and cloud computing stocks.
- Rumble, known for its video-sharing platform, is set to acquire data center firm Northern Data, enhancing its cloud division with 22,000 Nvidia chips.
Ah, the sweet taste of success! Rumble (RUM), a humble video-sharing platform with lofty dreams of conquering the cloud and crypto realms, saw its stock soar by 13% on Monday. This delightful rise came courtesy of Tether, the mighty crypto behemoth, who decided to throw its weight around by purchasing a cool 1 million shares.
And how much did Tether drop for this indulgence? A mere $5.7 million between November 19 and 21, according to the latest filing with the U.S. Securities and Exchange Commission. With those million shares added to their pile, Tether now controls over 104 million shares in Rumble. If that doesn’t make you feel a little tiny bit envious, I don’t know what will. Rumble’s stock shot up to $6.40, giving investors a rather pleasant surprise. Cheers to them!
The gains weren’t just random luck. Oh no, the tech gods smiled down on data center stocks, too, as those high-performance computing gems staged a glorious comeback. Cipher Mining (CIFR), IREN, and BitDeer (BTDR) all posted double-digit rallies. If this isn’t the revival of the year, what is?
But wait-there’s more! Rumble isn’t content with just playing in the video space. Oh no, they’re about to level up by acquiring Northern Data, a company that’s not only involved in cloud computing and data centers but is also Tether-backed. As if that weren’t enough, this merger is set to add 22,000 shiny Nvidia chips to Rumble’s already powerful cloud division. That’s a lot of chips, folks. Not the salty, crunchy kind, but the kind that could change the entire tech landscape. 😏
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2025-11-24 20:03