Rumble Inc. (RUM): Completion of Acquisition or Disposition of Assets

Trump Media and Rumble sued Brazilian judge Alexandre de Moraes over sealed orders requiring platforms to remove accounts tied to Bolsonaro supporters, alleging nearly 150 suspensions since 2022. In Florida federal court, they sought a clerk’s default after Moraes missed a June 15 response deadline despite email service. Brazil intervened, arguing immunity and lack of jurisdiction under the Foreign Sovereign Immunities Act; Judge Mary Scriven allowed intervention but deferred dismissal.

Wall Street was set to open higher as optimism over a U.S.-Iran interim deal offset concerns about a hawkish Fed under Kevin Warsh. Intel rose 8.8% in premarket after Trump said Apple agreed to work with Intel on U.S. chip design and manufacturing. Markets also weighed lower oil prices and FedWatch pricing of a 50% Sept 25 bp hike.

Wall Street futures rose after prior-session declines tied to expectations of further Fed rate hikes, with CME Group’s FedWatch showing a 50% chance of a 25 bp September move. Oil fell, supporting hopes inflation cools. US-Iran released an interim deal extending the ceasefire 60 days. Intel gained 8.4% on Trump’s comments about Apple chip work; Accenture fell 11.1% on a reduced revenue outlook.

Rumble rebranded to RUM Group and launched Quake AI after completing its acquisition of Northern Data AG, a deal valued at about $767 million, according to the company. Quake AI will combine Rumble Cloud’s infrastructure with Northern Data’s ~22,000 NVIDIA GPUs and up to 250 MW capacity, plus a Tether partnership. Rumble said it has over 200 MW unmonetized capacity and contracted revenue.

Rumble reported a Q1 2026 net loss of $30.3 million versus $2.7 million in Q1 2025, citing non-cash items and Northern Data acquisition-related costs. Costs of services fell 10% YoY to $27 million, G&A fell 37% to $10.4 million, while sales and marketing rose 134% to $8.5 million; adjusted EBITDA loss was $21 million. The Northern Data deal is expected to close mid-June 2026. Separately, an SEC filing said a third-party customer committed to buy dedicated Nvidia Blackwell B300 GPU cloud capacity

Rumble Inc. (NASDAQ: RUM) said its exchange offer for all outstanding shares of Northern Data AG has secured about 85.2% of Northern Data’s shares, after tendering 8,174,379 shares (46.2% of shares not under support agreements). The additional acceptance period ended June 1, 2026; closing is expected mid-June 2026, with delisting filings immediately after.