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00:02Rum Group shares fell Wednesday as the 10-year Treasury yield surged to a 19-year high, pressuring
00:07capital-intensive, high-growth interactive media platforms, according to Benzinga.
00:11Higher yields raise discount rates on long-term cash flows and increase borrowing costs.
00:16The rate spike is pressuring RUM as it expands its computing business and increases its ownership
00:21of northern data to about 98 percent.
00:24The company faces major spending commitments through Quake AI, including a $270 million
00:29GPU deal with Together AI and Georgia Data Center projects supporting a $13.7 billion computing
00:36agreement.
00:37RUM reported second-quarter revenue of $40.4 million, a net loss of $79.1 million and nearly
00:44$47 million in capital expenditures.
00:47Shares were down 6.36 percent at $8.39 at the time of publication on Wednesday, according
00:53to Benzinga ProData.
00:54For all things money, visit Benzinga.com.
