Tether-Backed Rumble, Northern Data Weigh $4.5 Billion AI Merger

Rumble Inc. is weighing an offer to buy German data center company Northern Data AG in an all-stock deal valuing the target at about $1.17 billion that would boost the conservative video service’s bid to become a cloud-computing provider.

Rumble has proposed paying 2.319 new shares for each Northern Data share, the companies said in separate statements on Sunday and Monday. That would value Northern Data’s stock at about $18.27 apiece, a steep discount to the company’s share price of €23.02 ($26.81) as of Friday’s closing price. Northern Data shareholders would end up owning about a third of Rumble.

The ...