Tether and Rumble bet on AI with $1.17B Northern Data acquisition

Tether and Rumble have offered to acquire all shares of AI infrastructure operator Northern Data in a $1.17 billion deal, making Tether Rumble’s top shareholder.

Tether and Rumble have announced a proposal for the joint acquisition of all Northern Data shares, taking full control of the artificial intelligence infrastructure company.

According to a Monday Rumble announcement, the deal would build on Northern Data’s existing AI and high-performance computing (HPC) operations. Tether, the issuer of the USDt (USDT) stablecoin and already Northern Data’s largest shareholder, would support the transaction. At the time, Tether hinted at future collaborations involving AI, peer-to-peer communications and data storage solutions.

Tether is the centerpiece connecting every company involved in the potential deal, with the firm investing $775 million in the anti-censorship YouTube alternative Rumble at the end of 2024. The two firms deepened their collaboration in May, when Rumble announced its USDT-supporting Bitcoin (BTC) and stablecoin wallet.

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