BUZZ-Rumble surges after cloud deal with El Salvador government

Reuters

13 Jan

BUZZ-Rumble surges after cloud deal with El Salvador government

** Shares of video-sharing platform and cloud services provider Rumble RUM.O rise 5.4% to $11.55 premarket

** The company announces a cloud services agreement with the government of El Salvador on Friday

** RUM's services to the country will include cloud storage and cloud computing, databases and integration of Kubernetes, a popular open-source technology, on its cloud platform

** RUM received a strategic investment of $775 mln from blockchain-enabled platform Tether in December, which sent its stock soaring over 81% in the following trading session

** Backed by venture capitalist Peter Thiel and U.S. Vice President-elect JD Vance through Narya Capital, RUM has a $3.11 bln market cap, according to data compiled by LSEG, as of last close

** RUM stock jumped more than 189% in 2024

(Reporting by Sanchayaita Roy in Bengaluru)

((sanchayaita.roy@thomsonreuters.com))

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