Streaming Platform Rumble Betting on AI With Northern Data Deal

If you ask Rumble Inc.’s chief executive officer, the video service’s $767 million acquisition of Northern Data AG will put it alongside Big Tech rivals like Amazon Inc. and Alphabet Inc. in the race to power artificial intelligence.

The Northern Data transaction “launches us directly into the fastest-growing market in technology: AI infrastructure,” Chris Pavlovski told analysts on Rumble’s earnings call on Monday.

The competition is stiff, and big tech companies are seeking to deploy vast sums of money to eke out an edge even as early warning signs emerge of frothiness in the markets being tapped to fund ...