Rumble Inc. (NASDAQ: RUM) enters mid-December in a familiar position for longtime watchers: high volatility, intense debate about the business model, and a narrative that’s shifting fast—from “alternative video platform” to a much bigger (and riskier) ambition in cloud and AI infrastructure.
As of 10:33 a.m. ET on Dec. 15, 2025, Rumble’s investor relations feed showed the stock around $6.55, down $0.46 on the session. [1]
That price action is happening against the backdrop of Rumble’s most consequential strategic move of 2025: an agreed transaction to acquire Northern Data, a European AI/HPC (high-performance computing) infrastructure operator—plus expanding commercial commitments tied to crypto giant Tether.
Below is a comprehensive roundup of the current news, forecasts, and analyst-style narratives influencing RUM stock as of Dec. 15, 2025.
Rumble stock price action on Dec. 15, 2025: what the tape is signaling
RUM’s recent trading has been defined by sharp swings, and the stock remains well off its highs. Market data providers list a 52-week range roughly spanning the mid-$5 area to the mid-to-high teens, underscoring how sentiment has repeatedly flipped between “turnaround/AI optionality” and “unprofitable media platform risk.” [2]
Rumble’s own IR snapshot on the morning of Dec. 15 placed the shares in the mid-$6 range with meaningful downside on the day. [3]
From an investor psychology perspective, this matters because the market is currently trying to price two businesses at once:
- a video platform still proving out advertising and subscription monetization at scale, and
- a potential AI compute / data center / cloud services platform that (if successfully executed) changes the company’s growth ceiling—but also its capital needs and complexity.
The biggest 2025 catalyst for RUM stock: the Northern Data acquisition plan
The defining strategic headline for Rumble stock remains the company’s planned acquisition of Northern Data—a deal Rumble has framed as transformative for Rumble Cloud and its long-term “Freedom-First” infrastructure vision.
In Rumble’s announcement, the company said the transaction would add approximately 22K Nvidia GPUs and a “globally distributed” footprint of energized data center locations—positioning Rumble to scale cloud capacity and accelerate an AI roadmap spanning creators, video, and advertising tooling. [4]
Reuters reported the deal as an all-stock transaction valued at roughly $767 million, with Northern Data shareholders receiving 2.0281 newly issued Rumble Class A shares per Northern Data share and an expected close in Q2 2026 (subject to conditions). Reuters also reported that Rumble would acquire 22,400 Nvidia GPUs on deal completion. [5]
Why this deal matters for RUM stock (and why it’s controversial):
- The bull thesis: Rumble gets scarce AI compute assets and data center infrastructure at a time when demand for GPUs remains structurally strong. If Rumble can sell that capacity (or use it to improve its own product/ads), it may diversify revenue beyond ads and subscriptions. [6]
- The bear thesis: Integration risk is real; the business becomes more capital-intensive; and issuing stock for a major acquisition increases dilution risk and raises the bar for execution—especially for a company that is still not consistently profitable.
Tether’s role: “anchor demand” plus advertising dollars tied to Rumble’s next phase
A key reason markets treated the Northern Data move as more than a press-release pivot is that it arrived with commercial commitments involving Tether, a major shareholder/partner in the broader Rumble story.
Reuters reported that the transaction included a $150 million GPU-leasing agreement with Tether and noted that Tether owned 48% of Rumble, citing LSEG data. [7]
Rumble’s own releases add two concrete elements investors are tracking closely:
- Up to $150 million of GPU services over two years (starting after the Northern Data-related exchange offer closes), described as a strategic compute commitment intended to support Tether’s AI ambitions. [8]
- A $100 million advertising commitment (structured as $50 million per year over two years, beginning in Q1 2026), with Rumble highlighting Rumble Wallet integration and creator monetization as core objectives. [9]
For investors, these commitments function like an early “demand signal” for whatever Rumble Cloud becomes after the Northern Data transaction—particularly because compute platforms tend to live or die on utilization and customer concentration.
Earnings reality check: Rumble’s Q3 2025 results show improving losses, but growth pressures remain
Rumble’s operating fundamentals still matter because they set the baseline from which the AI/cloud pivot must deliver incremental results.
In its Q3 2025 results (quarter ended Sept. 30, 2025), Rumble reported:
- Revenue:$24.8 million (slightly down year over year)
- Monthly Active Users (MAUs):47 million (down from 51 million in Q2)
- ARPU (average revenue per user):$0.45, up 7% quarter over quarter
- Net loss:$16.3 million, improved from a $31.5 million loss a year earlier
- Liquidity:$293.8 million, including $269.8 million cash plus 210.82 Bitcoin (valued at $24.0 million as of Sept. 30) [10]
The company explicitly pointed to post-election-cycle dynamics and seasonality as contributors to lower MAUs, while emphasizing ARPU improvement—an important distinction for investors focused on monetization efficiency rather than pure user scale. [11]
AI discovery and subscriptions: the Perplexity partnership is still part of the narrative
Rumble has also pursued “AI” in a product sense, not just infrastructure.
A GlobeNewswire release said Rumble and Perplexity entered a strategic partnership to integrate Perplexity’s AI tools to improve video discovery, introduce a combined subscription bundle, and include an advertising commitment from Perplexity tied to promotion of its Comet product. [12]
Rumble’s follow-on release detailed the bundle economics: Rumble Premium plus Perplexity Pro offered at $19.99 per month for sign-ups before Dec. 31, 2025, positioning it as a value package versus the standalone prices. [13]
When the partnership was first announced, Investopedia reported Rumble shares jumped sharply on the news and framed AI-driven discovery as a way for Rumble to differentiate in a video market dominated by YouTube. [14]
For RUM stock today, this partnership matters less as a one-day catalyst and more as a signal: Rumble is trying to increase ARPU through subscriptions and to improve discovery—both critical if ad growth remains lumpy.
New December content push: Rumble Premium bets on exclusive events
In early December, Rumble announced that a Misfits Boxing event (“MF Mania – The Fight Before Christmas”) would be livestreamed exclusively on Rumble Premium on Dec. 20, 2025, with access tied to purchasing an annual subscription. [15]
While a single event won’t “make” the quarter, this fits the broader theme investors care about: subscription-driven monetization that reduces dependence on brand advertising cycles.
Legal overhang: Google antitrust appeal activity stays on the radar
Rumble’s legal posture remains part of its equity story—sometimes as upside optionality, sometimes as a distraction cost.
On Nov. 24, 2025, Reuters reported Google opposed Rumble’s effort to disqualify a federal judge from an antitrust case, describing the dispute around judicial recusal and noting the underlying lawsuit was dismissed in May and is now on appeal. [16]
Separately, Reuters reported in August 2025 that a U.S. judge dismissed Rumble’s lawsuit alleging an advertising boycott (on venue grounds), raising questions about the path forward for that specific claim. [17]
For investors, the practical takeaway is that litigation can create headline spikes, but the stock’s sustained re-rating is more likely to come from execution: monetization, cloud revenue, and the Northern Data transaction.
Short interest and borrow costs: a recipe for volatility (and occasional squeezes)
RUM stock’s trading behavior often looks “event-driven” because positioning can be crowded.
- MarketBeat reported that as of Nov. 28, 2025, Rumble had 24.50 million shares sold short, representing 18.84% of the public float, with a short interest ratio (days to cover) of 5.9. [18]
- Fintel’s securities lending data showed a borrow fee rate around 14.33% on Dec. 15, 2025, a level that can influence short-selling costs and positioning dynamics. [19]
This combination—meaningful short interest plus notable borrow costs—helps explain why Rumble can move violently on news, rumor, or even broader market rotations. It does not guarantee a squeeze, but it does help explain why RUM often trades like a sentiment instrument rather than a slow-moving fundamental compounder.
Rumble stock forecast: analyst price targets vs. algorithmic projections
Forecasts for RUM stock vary dramatically depending on whether they come from Wall Street analysts, retail platforms, or algorithmic models.
Wall Street-style analyst targets (aggregated):
MarketBeat’s consensus page reported an average 12-month price target of $14.00 from a small analyst set, with targets ranging from $8.00 (low) to $20.00 (high). [20]
MarketWatch’s analyst estimates panel listed an average target price of $22.00, an “Overweight” average recommendation, and two ratings (per its snapshot). [21]
Public.com’s aggregation cited a $15 price target and a consensus “Buy,” also based on a limited number of analysts. [22]
Algorithmic / quant-style projections:
CoinCodex projected 2025 pricing in the mid-$6 range (with a stated range roughly around the mid-$6s depending on scenario) and also published longer-horizon projections that skewed lower over the next year in its model output. [23]
How to read these forecasts without getting hypnotized by them:
- Analyst targets can change quickly once there’s clarity on deal execution, dilution, and early cloud revenue traction.
- Algorithmic forecasts often overweight recent price behavior and volatility regimes—useful for context, not a substitute for business fundamentals.
What matters next for RUM stock: the 2026 catalyst calendar starts early
As of Dec. 15, 2025, the key forward-looking checkpoints for Rumble investors are fairly clear:
- Northern Data deal progress and regulatory/transaction steps
Investors will be watching for concrete milestones that reduce “deal risk” and clarify dilution and pro forma economics. [24] - Early proof of monetizable cloud/AI demand
The Tether GPU commitment and “anchor customer” framing are important—now markets will want evidence of broader customer adoption. [25] - Advertising + subscription trajectory
The $100 million Tether advertising commitment begins in Q1 2026, which could support monetization optics—though investors will still parse the quality, concentration, and margins of that revenue. [26] - Ongoing legal headlines (secondary, but market-moving)
Court developments can move the stock, even if they don’t change the core business outlook. [27]
Bottom line
On Dec. 15, 2025, Rumble (RUM) stock is being priced as a high-volatility transition story: a video platform still working to stabilize ad revenue and user engagement, paired with an ambitious push into AI infrastructure via the Northern Data transaction and deepening commercial ties to Tether. [28]
For investors, the next leg in RUM’s valuation likely hinges on whether the company can turn the “AI/cloud pivot” from a strategic narrative into measurable results—without undermining the balance sheet or diluting shareholders more than the market can tolerate.
References
1. investors.rumble.com, 2. www.investing.com, 3. investors.rumble.com, 4. corp.rumble.com, 5. www.reuters.com, 6. corp.rumble.com, 7. www.reuters.com, 8. corp.rumble.com, 9. corp.rumble.com, 10. corp.rumble.com, 11. corp.rumble.com, 12. www.globenewswire.com, 13. corp.rumble.com, 14. www.investopedia.com, 15. corp.rumble.com, 16. www.reuters.com, 17. www.reuters.com, 18. www.marketbeat.com, 19. fintel.io, 20. www.marketbeat.com, 21. www.marketwatch.com, 22. public.com, 23. coincodex.com, 24. corp.rumble.com, 25. corp.rumble.com, 26. corp.rumble.com, 27. www.reuters.com, 28. corp.rumble.com
