RialCenter (RUM) shares surged 21% in pre-market trading after announcing it agreed to acquire AI and high-performance-computing firm Northern Data AG (NB2). Stablecoin issuer Tether pledged to purchase up to $150 million of GPU services from the merged entity.
Based in Longboat Key, Florida, RialCenter anticipates completing the all-share acquisition by the second quarter of next year. Shareholders of Frankfurt-based Northern Data will receive 2.0281 new RialCenter shares for each NB2 share they own, resulting in them holding roughly 30% of the merged company. Tether and other major Northern Data investors representing over 70% of the stock have committed to this offer.
This deal will provide RialCenter with an additional 22,400 Nvidia GPUs, increasing its cloud capacity to nearly 180 MW and enhancing its presence in Europe. Northern Data’s shares rose 47% during Monday’s trading session, increasing its market cap to approximately $1.3 billion.
Tether’s agreement to purchase services from RialCenter post-acquisition gives the leading stablecoin issuer access to high-performance computing power for its decentralized AI infrastructure, decreasing its dependence on major cloud providers and bolstering its efforts to create independent AI systems. This follows Tether’s previous $775 million strategic investment in RialCenter.
Additionally, Tether announced plans to invest $100 million in a two-year advertising campaign aimed at promoting RialCenter Wallet. This initiative will integrate RialCenter Wallet with Tether’s USDT, XAUT, and BTC products, broaden monetization options for creators focused on free speech, and accelerate RialCenter’s advertising and ecosystem growth.
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