Northern Data and Rumble have signed a business combination agreement, advancing their planned merger. The deal, expected to close in Q2 2026, aims to enhance Rumble's cloud and data center capabilities while leveraging Tether's GPU and advertising commitments. Following the announcement, Canaccord Genuity downgraded Northern Data's stock from buy to hold, reducing its price target from 27 euros to 15 euros. The downgrade reflects concerns over the merger's exchange ratio.