Rumble Eyes $3B AI Compute Run Rate From 250MW Power Pipeline

Key Points

• Quake AI is becoming Rumble’s primary growth engine, operating 22,000 GPUs for more than 50 customers. GPU utilization has risen above 83%, and its largest contract is a multiyear $270 million agreement with Together AI for NVIDIA B300 GPUs.
• Rumble expects 250 megawatts of grid-connected power to be available in 2027, potentially supporting an AI compute revenue run rate exceeding $3 billion. The pipeline includes 180 MW in Atlanta, 50 MW in Sweden, and 20 MW in Norway.
• The expansion will require substantial capital—roughly $8 million to $12 million per megawatt—and depends on construction, equipment, financing, and long-term customer agreements. Management sees construction constraints such as labor, steel, power systems, and chillers as bigger risks than GPU supply.

Rumble NASDAQ: RUM is positioning its recently combined operations as an AI compute infrastructure business with a substantial 2027 power pipeline, while continuing to operate its established video platform separately.

Speaking at an event with Canaccord Genuity Equity Research Senior Analyst Kingsley Crane, RUM Group CFO Mike Massey said the company now consists of two autonomous businesses: Rumble Video and Quake AI. Rumble Video has more than 50 million monthly active users, according to Massey, while Quake AI combines Rumble’s cloud, content-delivery network and data-center assets with GPU-as-a-service capabilities acquired through Northern Data.

Massey said Rumble built much of its own infrastructure because of its history as a free-speech video platform, including its CDN and data centers. The company is also exploring potential AI-training applications for its video data after receiving outreach from robotics companies interested in spatial and temporal video datasets, he said.

Quake AI Focuses on Compute Expansion

The company’s primary financial opportunity is expected to come from Quake AI, Massey said. The business currently operates 22,000 Hopper-generation GPUs, mainly in Europe, serving more than 50 customers across inference, training, pre-training and QLoRA workloads.

According to Massey, utilization of the existing GPU fleet improved from less than 20% in the middle of last year to more than 83% consistently during the first half of the current year. He attributed the improvement to new management and a renewed focus on execution and customer credibility following the Northern Data acquisition.

Quake AI’s largest contract to date is a multiyear, $270 million agreement with Together AI for NVIDIA B300 GPUs, Massey said. He described the contract as an initial proof point that Quake can deliver latest-generation GPU capacity at scale.

RUM Group’s central expansion opportunity is 250 megawatts of grid-connected power expected to be available in 2027. Massey said monetizing that capacity could represent a revenue run rate of more than $3 billion at current market rates, though the company must still execute on construction, customer agreements and equipment deployment.

• 180 megawatts are associated with a site in Atlanta, Georgia.
• A smaller Pittsburgh site is expected to serve AI-native customers.
• The company also has 50 megawatts in Sweden and 20 megawatts in Norway.

Massey said the Atlanta location has use permits, a Georgia Power CES agreement, an installed substation and transformers already in place. The company is engaging with multiple hyperscalers as it seeks a partner for the site, he said.

Capital Needs and Equipment Supply

In discussing the buildout, Massey said data-center capital expenditures generally range from $8 million to $12 million per megawatt. The company is targeting NVIDIA’s Vera Rubin architecture for its next generation of deployment. For an 180-megawatt project, he said the required installation could amount to roughly 40,000 to 50,000 GPUs.

Massey said the company expects that a majority of construction capital could be financed when supported by long-term, take-or-pay customer agreements. He identified selecting financeable customers and partners as a key priority.

While GPU availability remains an industry concern, Massey said management is less concerned about chip supply than about construction-related constraints, such as skilled labor, steel, uninterruptible power systems and chillers. He said the Atlanta market offers a strong labor pool and that several long-lead items, including transformers, a substation and generators, are already available.

The company has a strategic relationship with Tether, which Massey said owns nearly 50% of the combined company. He said Tether’s position as a major investor is a “tailwind” in discussions with partners because of its capital base and international reach.

Pricing and Operating Strategy

Massey said Quake’s current Hopper GPU estate generates roughly $6 million to $7 million of annual revenue per megawatt. He said latest-generation Blackwell systems have been priced at more than $11 million per megawatt annually, while future Vera Rubin deployments are expected to command a premium.

He added that demand continues to exceed supply across AI compute markets and that pricing for Hopper capacity has strengthened. Massey also argued that older GPU generations could remain useful longer than some investors expect, as customers use different hardware generations for different tasks such as retraining and recursive inference.

Quake AI intends to remain focused on infrastructure rather than expanding into software or platform-as-a-service offerings, Massey said. He said the company wants to avoid competing with customers that provide higher-level AI services, arguing that operating GPU hardware and data centers at scale remains a valuable business in its own right.

While Rumble Video remains part of the company, Massey said Quake AI’s financial results are expected to “far outstrip” those of the video platform over time. He said management believes the broader market has not yet fully recognized RUM Group’s position in AI compute as a service.

About Rumble (NASDAQ:RUM)

Rumble Inc operates a video-sharing platform designed to offer creators and audiences an alternative to traditional social media and streaming services. The company's primary business activities include hosting, distributing and monetizing user–generated and professional video content. Through its platform, Rumble enables content creators to retain a higher share of advertising revenue and maintain greater control over their intellectual property, while offering viewers open access to a wide range of videos spanning news, sports, entertainment and educational programming.

In addition to its core video platform, Rumble provides cloud–based video hosting and delivery services via Rumble Cloud, a content–delivery network (CDN) designed to support high–volume streaming and storage.

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