Rumble Inc. (NASDAQ: RUM) heads into Tuesday’s session on the back of one of its strongest two-day moves of 2025, fueled by fresh commitments from crypto giant Tether and a transformational AI infrastructure deal with Germany’s Northern Data.
As of Monday, November 24, RUM closed at $6.51, up about 14.4% on the day, after trading between $5.92 and $6.57 on unusually heavy volume of roughly 7.2 million shares, well above recent averages. [1] That follows a 7% gain on Friday, lifting the stock more than 22% over the last two sessions and putting it back near the upper end of its recent trading band, though still close to the bottom of its 52-week range of $5.11–$17.40. [2]
Below is a deep dive into what’s moving RUM stock today, the company’s latest financials, and the key risks and opportunities investors are weighing.
RUM stock price today: where things stand
Price snapshot (heading into Nov. 25, 2025)
- Last close (Mon, Nov. 24): $6.51
- Daily move: +$0.82 (+14.41%)
- Intraday range (Mon): $5.915 – $6.57
- Volume (Mon): 7,186,171 shares
- Previous close (Fri, Nov. 21): $5.69 (+6.95% that day) [3]
- 52-week range: $5.11 – $17.40 [4]
- Market cap: Roughly $2.4–$2.5 billion, depending on the exact share count used. [5]
The rally has pushed RUM off its recent lows but still leaves the stock far below its late-2022 peak near $17. [6] Volatility remains elevated, with the name frequently reacting sharply to news around user growth, politics, crypto, and now AI infrastructure.
Why RUM stock is surging: Tether steps up (again)
The latest leg higher in RUM has been driven primarily by Tether, the issuer of the world’s most-used dollar stablecoin (USDT), strengthening both its equity stake and commercial commitments to Rumble.
1. Tether boosts its equity stake
On Monday, CoinDesk reported that Tether Investments bought roughly 1.06 million RUM shares for about $5.7 million between Nov. 19 and 21, lifting its total holdings to more than 104 million shares. RUM stock jumped around 13% intraday on the news, rising to about $6.40 during Monday’s session. [7]
That buying adds to Tether’s already large position, originating from a $775 million strategic investment completed earlier in 2025, which also provided Rumble with $250 million in gross proceeds and helped fund its expansion and Bitcoin treasury strategy. [8]
2. Up to $150 million in GPU services from Tether
Earlier this month, Rumble announced that Tether has agreed to purchase up to $150 million of GPU services over two years from Rumble and Northern Data, contingent on the closing of Rumble’s exchange offer for Northern Data. [9]
The agreement would make Tether an anchor AI compute customer for Rumble’s emerging cloud and AI business, giving Tether access to high-performance GPU clusters while providing Rumble with a large, contracted demand base for its planned “Freedom-First” AI infrastructure.
3. $100 million advertising commitment
In a separate deal announced the same day, Tether also committed $100 million of advertising spend on Rumble over two years, starting in Q1 2026 ($50 million per year). [10]
Rumble says the advertising commitment is intended to:
- Drive adoption of Rumble Wallet, which supports payments in USDT, gold-backed tokens (XAUT), and Bitcoin
- Expand monetization options for creators on the platform
- Help build out new ad solutions across its ecosystem [11]
Taken together, the equity stake, GPU commitment, and ad spend deepen Rumble’s dependence on Tether—but also give it clearer revenue visibility in both advertising and cloud services, something investors had been waiting for.
Northern Data deal: RUM’s pivot from social video to AI infrastructure
The other cornerstone of the RUM story today is its planned acquisition of Northern Data AG, a German AI and high-performance computing (HPC) infrastructure company.
Deal terms and strategic rationale
Under a business combination agreement signed November 10, 2025, Rumble will launch a voluntary public exchange offer for all Northern Data shares. Each Northern Data shareholder who tenders is set to receive 2.0281 newly issued RUM Class A shares for each Northern Data share. [12]
Key points:
- The transaction is an all-stock deal valued at roughly $767 million, according to Reuters. [13]
- Northern Data shareholders are expected to own about 30.4% of Rumble after closing, assuming full participation in the offer. [14]
- The deal is expected to close in Q2 2026, subject to customary approvals and conditions. [15]
What Rumble gets
According to Rumble’s announcement, the combination would significantly scale Rumble Cloud: [16]
- ~22,400 Nvidia GPUs, including ~20,400 H100s and 2,000 H200s
- A global network of energized data centers, including four owned sites, with a flagship facility in Maysville, Georgia expected to deliver up to 180 MW of capacity
- Strong presence in European locations such as Germany, Sweden, Norway, Portugal, the Netherlands, and the U.K.
The aim is to transform Rumble from a video platform into a full-stack “Freedom-First” infrastructure provider spanning video, AI compute, cloud, and eventually fintech services such as Rumble Wallet and AI-enabled tools.
Tether’s role in the deal
The GPU and advertising commitments from Tether explicitly support this Northern Data transaction and position Tether as a cornerstone customer of the combined company’s AI cloud, reinforcing the economics of the deal if it closes as planned. [17]
Rumble’s Q3 2025 earnings: improving losses, but growth is uneven
RUM’s recent price action is also a delayed reaction to its Q3 2025 financial results, released on November 10.
Headline numbers (Q3 2025)
For the quarter ended September 30, 2025, Rumble reported: [18]
- Revenue: $24.8 million, down about 1% year-over-year (vs. $25.1 million in Q3 2024)
- Monthly Active Users (MAUs): 47 million, down from 51 million in Q2 2025
- Average Revenue Per User (ARPU): $0.45, up 7% from the prior quarter
- Net loss: $16.3 million, improved from a $31.5 million loss in Q3 2024
- Adjusted EBITDA: –$15.1 million, an improvement of $8.4 million versus the prior year
- Total liquidity: $293.8 million, including $269.8 million in cash and equivalents plus 210.82 Bitcoin, valued around $24 million at September 30 (and about $21.8 million as of Nov. 7). [19]
The revenue line is essentially flat, but losses are narrowing, and the balance sheet remains robust, particularly after the early-2025 Tether investment. [20]
Engagement vs. monetization
One of the key debates around RUM is the trade-off between user growth and monetization:
- MAUs fell from 51 million in Q2 to 47 million in Q3, which management attributes partly to a lull in political news outside the U.S. election cycle and seasonal content slowdowns in summer. [21]
- Despite fewer users, ARPU rose to $0.45, driven by more effective monetization of the existing audience via advertising and subscriptions. [22]
In other words, Rumble is squeezing more revenue from each user, but the overall audience has shrunk versus 2024 peaks (Q4 2024 MAUs were 68 million). [23]
Looking back: 2024 election-year surge & Tether’s initial investment
Rumble’s 2024 and early 2025 results help explain both investor optimism and skepticism today.
In Q4 2024, an election-heavy quarter, Rumble posted: [24]
- Revenue of $30.2 million, up 48% year-over-year
- MAUs of 68 million, including 52 million in the U.S. and Canada, up 21% sequentially
- ARPU of $0.39, up 18% quarter-on-quarter
The company also announced a $775 million strategic investment from Tether, which closed in February 2025 and brought in $250 million in gross proceeds while also leading to a sizable non-cash derivative loss on the income statement. [25]
Those figures show how powerful Rumble’s traffic and revenue can be in politically charged periods—and how reliant the business may be on such cycles.
How Wall Street sees RUM stock now
Analyst coverage of RUM is still relatively thin, but several data providers now track 12‑month price targets and ratings.
- MarketWatch and the Wall Street Journal list a high target of $22, median of $16, and low of $10, with an average around $16. [26]
- Zacks notes a similar $10–$22 range. [27]
- Fintel, aggregating multiple analysts, puts the average one-year target at about $14.28, with estimates spanning $10.10 to $23.10. [28]
- A Benzinga deep dive in October cited a consensus around $14, with high estimates near $20 and low around $10, while flagging RUM’s volatility and execution risk. [29]
With Monday’s close at $6.51, these targets imply that Wall Street’s average expectations sit roughly 2x–2.5x above the current price, though that gap can reflect both perceived upside and elevated risk.
Short interest also remains notable: Fintel estimates short float around 17%, which can amplify both rallies and selloffs. [30]
Bull case for RUM stock after the latest news
Investors bullish on RUM typically focus on a few core themes:
- AI & cloud inflection point
- The Northern Data acquisition would instantly give Rumble one of the largest GPU estates in Europe and a global data center footprint, positioning it as a player in AI infrastructure rather than just social video. [31]
- Tether’s $150 million GPU services commitment provides early demand for that infrastructure and validates the AI pivot from a marquee crypto and AI player. [32]
- Locked-in advertising and wallet flywheel
- The $100 million advertising commitment from Tether gives Rumble multi-year visibility into ad revenue and helps drive adoption of Rumble Wallet and stablecoin-based creator monetization. [33]
- Healthy liquidity and improving losses
- Alternative-platform brand & creator ecosystem
Put simply, the bull case is that Rumble is morphing into a hybrid of YouTube + AI cloud infra, backed by a deep-pocketed partner (Tether), with the current share price not fully reflecting that pivot.
Bear case & key risks for RUM stock
Skeptics of RUM point to just as many concerns:
- Still unprofitable with volatile growth
- Concentration risk around Tether
- Tether is simultaneously a major shareholder, anchor cloud customer, and top advertising partner. If Tether’s strategy or regulatory footing changes, the impact on Rumble could be significant. [40]
- Execution risk in AI infrastructure
- Operating and monetizing a fleet of tens of thousands of high-end GPUs and multiple data centers is capital-intensive and competitive, pitting Rumble against both hyperscalers and specialized HPC providers. [41]
- The Northern Data deal is not yet closed and remains subject to approvals, integration challenges, and potential tax-related issues flagged in Northern Data’s prior filings. [42]
- Political and regulatory overhang
- Rumble’s positioning around free speech and its role in politically charged content (including hosting Trump’s Truth Social) may expose it to regulatory, advertiser, and reputational risk in multiple jurisdictions. [43]
- High volatility & short interest
- With substantial short interest and a history of large, news-driven swings, RUM can move sharply in both directions, which may not suit all investors. [44]
What today means for RUM investors
Going into Tuesday, November 25, 2025, RUM stock is trading at the intersection of three big narratives:
- From alt-video to AI infra:
The Northern Data deal, plus Tether’s GPU commitment, signals Rumble’s intent to become a credible AI compute platform, not just a politically flavored YouTube alternative. - Tether as kingmaker:
Between its equity stake, advertising dollars, and planned GPU spend, Tether has effectively become Rumble’s most important partner—both a strength and a single point of failure. - Election-cycle earnings vs. long-term monetization:
Q3 showed that outside of election spikes, user growth can stall or reverse even as monetization per user improves. The long-term bull case hinges on whether the AI and cloud pivot can smooth out that cyclicality and build a more durable revenue base.
For traders, the current setup is a classic high-risk, high-reward story: improving fundamentals, a dramatic strategic pivot, and heavy sponsorship from Tether on one side; continued losses, concentration risk, and big execution challenges on the other.
For longer-term investors, the key questions over the next 12–18 months will likely be:
- Does the Northern Data transaction close on schedule, and does Rumble successfully integrate and scale those GPU assets?
- How quickly do the $150 million GPU and $100 million ad commitments from Tether translate into tangible, recurring revenue?
- Can Rumble stabilize MAUs in a non-election environment while continuing to grow ARPU?
- Does the company continue to narrow losses toward its stated goal of moving toward adjusted EBITDA breakeven? [45]
Bottom line
RUM stock today is being repriced around a new story: less about whether Rumble can simply coexist with YouTube, and more about whether it can become a Freedom‑First AI and cloud infrastructure platform, with Tether as a strategic and financial anchor.
At around $6.50, the market is still discounting plenty of risk, even as Wall Street targets and Tether’s commitments point to a potentially much larger business if Rumble executes. Whether that makes RUM a buy, hold, or avoid depends on your risk tolerance, time horizon, and view on both crypto macro and AI infrastructure economics.
As always, this article is for informational purposes only and does not constitute financial advice. Consider your own financial situation and consult a licensed advisor before making any investment decisions.
For more original coverage and filings related to Rumble and RUM stock, you can explore the recent stories below:
References
1. markets.financialcontent.com, 2. www.marketwatch.com, 3. markets.financialcontent.com, 4. www.marketwatch.com, 5. www.marketwatch.com, 6. www.benzinga.com, 7. www.coindesk.com, 8. corp.rumble.com, 9. corp.rumble.com, 10. www.globenewswire.com, 11. www.globenewswire.com, 12. www.globenewswire.com, 13. www.reuters.com, 14. www.globenewswire.com, 15. www.globenewswire.com, 16. www.globenewswire.com, 17. www.globenewswire.com, 18. corp.rumble.com, 19. corp.rumble.com, 20. corp.rumble.com, 21. corp.rumble.com, 22. corp.rumble.com, 23. corp.rumble.com, 24. corp.rumble.com, 25. corp.rumble.com, 26. www.marketwatch.com, 27. www.zacks.com, 28. fintel.io, 29. www.benzinga.com, 30. fintel.io, 31. www.globenewswire.com, 32. www.boersennews.de, 33. www.globenewswire.com, 34. corp.rumble.com, 35. corp.rumble.com, 36. corp.rumble.com, 37. corp.rumble.com, 38. corp.rumble.com, 39. www.globenewswire.com, 40. corp.rumble.com, 41. www.globenewswire.com, 42. www.globenewswire.com, 43. www.reuters.com, 44. fintel.io, 45. corp.rumble.com
