RUM Group signs $13.7B GPU deal with mystery US client
RUM Group, which hosts US President Donald Trump's Truth Social platform, just signed a massive $13.7 billion deal with a mystery US cloud client.
Over six years, it will supply GPUs and tech services from its Maysville, Georgia site, which is currently under development.
The agreement rolls out in three stages, with the last installment contingent on a delivery date approved by the client.
Client can buy 51 million RUM shares
The client can snap up around 51 million RUM Group shares for just 1 cent each as it gradually over six years, as the client fulfills the purchase agreements.
News of the deal sent RUM's stock up more than 8% early Monday.
Still, the company admits it needs to raise funds, through debt or equity, to actually pull off this contract.
RUM Group targets AI infrastructure
This big move follows RUM Group's rebranding in June after buying German AI firm Northern Data.
They're aiming to get in on the booming AI infrastructure market.