Rumble Inc. (RUM) is a “Freedom-First” technology platform based in Longboat Key, Florida that is no stranger to controversy. The company operates a rapidly growing ecosystem of cloud services, live streaming and video sharing. Founded in 2013 by CEO Chris Pavlovski, Rumble has become the leading alternative digital media platform and is now aggressively pivoting into AI cloud infrastructure. The proposed combination with the equally controversial Northern Data AG unites Rumble’s video platform, advertising network and cloud services with Northern Data’s approximately 22,000 GPUs and nine data center facilities, positioning the combined entity at the intersection of digital media, AI computing and cloud infrastructure.
Backed by nearly $1 billion in strategic investments from Tether, Rumble is transforming from a niche video platform to a diversified AI-powered technology company with a significantly expanding total addressable market.
More Barchart news
Rumbling Stock Performance
RUM’s 52-week range spans from a low of $4.62 to a high of $10.99, reflecting significant volatility driven by the Northern Data acquisition announcement, Tether partnership milestones, and changing sentiment around the company’s AI cloud pivot. The stock has significantly underperformed over its IPO life, generating an annualized return of approximately -4.5% since its February 2021 listing at $10.71.
Against the Nasdaq Composite ($NASX)’s roughly 13% year-to-date (YTD) gain in 2026, RUM has done quite well at 24%. However, it has significantly lagged the broader tech index over the past 52 weeks, down 12% in that period. Although the pending closure of Northern Data, Tether’s advertising ramp, and the monetization of Rumble Shorts in H2 2026 represent significant rerating catalysts that could dramatically alter the long-term trajectory.
www.barchart.com
Rumble posts mixed results
Rumble reported Q1 2026 revenue of $25.5 million, up 7% year-over-year from $23.7 million in Q1 2025, just shy of the analyst consensus estimate of about $34.83 million, while GAAP EPS came in at a loss of $0.12 per share, missing the forecast loss of $0.06. Despite the double miss in revenue and EPS, the company’s revenue surpassed the Zacks Consensus Estimate by 2.29%, with high marketing spending and non-cash non-acquisition charges being the main drivers of the wider-than-expected net loss.
Rumble posted a net loss of $30.3 million in the first quarter of 2026, compared to just $2.7 million in the first quarter of 2025, driven primarily by non-cash items and costs linked to the Northern Data acquisition process. Cost of services decreased 10% year-on-year to $27 million, while general and administrative expenses fell sharply 37% to $10.4 million, although sales and marketing expenses increased 134% to $8.5 million, reflecting aggressive investment in brand building ahead of the launch of the combined entity. The adjusted EBITDA loss for the quarter was $21 million.
The Northern Data acquisition is on track to close in mid-June 2026, with Northern Data shares set to be delisted shortly thereafter. CEO Chris Pavlovski stated, “While we are disappointed with our financial results, we remain committed to our strategic initiatives, including monetizing Rumble Shorts and expanding our cloud services.” The company plans to begin monetizing Rumble Shorts in the second half of 2026 and accelerate its advertising commitment to Tether, which has already begun scaling in the second quarter of 2026.
Rumble partners with Nvidia
Rumble shares rose more than 23% to an 11-month high after the company announced its largest customer engagement to date, a major milestone in its continued pivot to AI cloud infrastructure. According to an SEC filing, a third-party cloud customer has committed to purchasing Rumble’s dedicated GPU cloud capacity, powered by Nvidia’s (NVDA) next-generation Blackwell B300 systems.
The deal represents a substantial and emerging new revenue stream for Rumble beyond its advertising business, and the contract also includes provisions to increase value and extend duration based on market success, signaling strong confidence in Rumble’s growing cloud capabilities and long-term AI infrastructure ambitions.
Should you get Rumble?
As Rumble’s landmark Nvidia Blackwell B300-powered cloud deal marks its largest customer commitment to date, the company’s AI infrastructure pivot is rapidly shifting from narrative to reality. The Wall Street consensus is a “Moderate Buy” among three analyst ratings, including one “Strong Buy” and two “Hold,” with a median price target of $22, implying a staggering upside of approximately 184% from current levels.
While thin analyst coverage and pre-profitability status warrant caution, the closing of the Northern Data acquisition, Tether’s hype ramp, and now a landmark GPU cloud deal make RUM one of the most asymmetric risk-reward opportunities in the small-cap AI space today.
www.barchart.com
On the date of publication, Ruchi Gupta had no (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com
