RUM Group jumps on $13.7 billion AI cloud services deal

RUM

24/08/2026 14:21

** Shares of video platform and cloud services provider RUM Group RUM.O rise 2.8% to $9.3 premarket
** Stock set to open at its highest in over two months, if gains hold
** RUM hosts Trump's Truth social platform, says it signed a $13.7 bln AI deal with an unnamed US-based cloud customer
** Under the six-year deal, the customer will buy GPU services from RUM's Georgia site currently under development
** As part of the deal, the customer has the option to buy ~51 mln of RUM's shares for one cent each
** Co says it currently lacks funds and plans to raise capital to fulfill the contract
** As of last close, stock up 43.2% YTD

 (Reporting by Anand Gopal in Bengaluru)
 ((AnandGopal.R@thomsonreuters.com))