Quake AI Emerges: Northern Data's Final Act Brings a Surge and a Setup for Something New
Published on 06/18/2026 at 16:47 | Redaktion boerse-global.de
The numbers alone tell a story of extremes. Northern Data shares lurched to a fresh low of €5.00 just days ago. Now the stock is trading at €9.19, a 12% single-day pop that caps a weekly surge of nearly 70%. What’s driving such whiplash? A sweeping corporate overhaul, a sharply higher revenue forecast, and the quiet exit of a co-CEO — all playing out as the company prepares to vanish from public markets.
Revenue Guidance Gets a Major Upgrade
Management has raised its 2026 revenue target to between €170 million and €190 million, up from a prior ceiling of €150 million. The new floor of €170 million alone clears the old top end by a wide margin. The reasoning is straightforward: pricing for high-performance computing has firmed up, and the company’s GPU fleet is running near capacity.
That infrastructure now totals about 22,000 Nvidia graphics processors, split between the H100 and H200 models. Utilization stands at roughly 85%, according to the latest disclosures. Nine data centers are live, and more than 200 megawatts of power capacity sit idle — a resource that Quake AI will need to convert into revenue quickly to justify the upgraded numbers.
A Strategic Pivot: Keep the Hardware, Change the Name
Alongside the guidance bump, Northern Data has reversed course on one of its GPU clusters. Originally slated for sale, the server group will now remain in-house, generating recurring cloud revenue rather than a one-time gain. That decision aligns with the company’s broader shift: after selling off its Bitcoin mining arm Peak Mining, the group is doubling down on cloud services under the Taiga Cloud brand and colocation through Ardent Data Centers.
Should investors sell immediately? Or is it worth buying Northern Data?
The bigger structural change, however, is the completion of the Rumble takeover. The U.S.-based parent company now operates as RUM Group, having secured roughly 85.2% of Northern Data’s outstanding shares via an exchange offer. The acquired entity is being rebranded as Quake AI, positioning it as the group’s pure-play artificial intelligence division.
With the transaction closed, co-CEO Aroosh Thillainathan has left the company by mutual agreement. Leadership is being restructured as the new subsidiary finds its footing.
A Delisting Looms Over the Rally
All of this optimism takes place under the shadow of a swift delisting. Northern Data’s shares will soon be pulled from the m:access segment of the Munich Stock Exchange. A cash compensation offer is off the table; shareholders who didn’t tender face a market with no regular price discovery once the delisting is complete.
The stock’s wild swings underscore the uncertainty. On a year-to-date basis, the shares are still down roughly 42%, and the long-term picture is worse — a 68% decline over the past twelve months. The all-time high near €29 looks unreachable. With annualized volatility approaching 200%, this is no ride for the faint-hearted.
Northern Data at a turning point? This analysis reveals what investors need to know now.
What Comes Next for Quake AI
The immediate challenge is operational: the 200-plus megawatts of untapped power capacity must be monetized. If Quake AI can fill those data centres with paying customers, the new revenue range may prove achievable. If not, the gap between ambition and execution will widen quickly.
For investors still holding the stock, the clock is ticking. The delisting will erase the safety net of exchange trading. The underlying cloud business may have a brighter future under RUM Group, but that future will play out beyond the glare of public markets — and at a valuation that only the new controlling shareholder will set.
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Northern Data Stock: New Analysis - 18 June
Fresh Northern Data information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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