Rumble Inc. secures $13.7 billion GPU services agreement

Rumble Inc. has entered into a six-year commercial agreement with an unaffiliated U.S.-based cloud customer for approximately $13.7 billion in GPU services. The contract will be fulfilled at the company’s data center site in Maysville, Georgia, which is currently under development.

The agreement is structured in three tranches of aggregate order value, spread evenly across the term. Additionally, the company and the customer signed a binding term sheet for a warrant allowing the customer to purchase up to 50,808,408 shares of Rumble Group Class A common stock at an exercise price of $0.01 per share. The vesting of these warrants is tied to the customer’s service purchases and potential future expansion agreements.

This pivot toward AI infrastructure and hyperscale cloud computing follows a significant shift in the company’s business model. Following the disclosure of the transaction, Rumble’s stock saw an increase of approximately 10%.