Rumble beats Q3 guidance as Quake AI joins results, but loss widens

By Sophie Lindqvist

Rumble (NASDAQ:RUM) shares rose 6% to $5.42 in early trading on November 11 after Q3 2026 revenue reached $96.58 million, according to 24/7 Wall St. The company’s sales topped analyst estimates and cleared its own $87 million to $93 million guidance range.

Rumble released the results before the market opened. It was the first full quarter to include Quake AI, the cloud business that rents computing infrastructure for AI workloads, making the figures an early test of the company’s push beyond video.

The profit picture was weaker. Rumble’s loss per share came to $0.19, compared with the $0.12 loss analysts expected, according to 24/7 Wall St. The source said traders leaned on the top line because revenue cleared both estimates and guidance; the overall report remained mixed.

What did the revenue beat actually show?

24/7 Wall St. described the quarter as an early sign that an AI infrastructure shift was starting to reach Rumble’s sales line. The report did not separate Quake AI revenue from advertising revenue, so the full $96.58 million cannot be treated as AI revenue.

That distinction keeps the milestone narrow: Rumble has a larger business after the cloud deal, but the report does not show how much came from compute. Investors still have to judge whether that mix can reduce the company’s losses. This is a revenue milestone, not yet a profit turnaround.

How did Quake AI enter the business?

Rumble closed its all-stock acquisition of German cloud provider Northern Data on June 17, according to 24/7 Wall St. The company now runs two divisions: the Rumble video platform and Quake AI, which rents graphics processing unit capacity to AI customers.

Quake AI also has a six-year commercial arrangement with Anthropic, which 24/7 Wall St. described as a high-profile customer. Rumble draws revenue from two distinct lines: advertising-supported video and rented computing power.

During the second-quarter earnings call, CEO Christopher Pavlovski called Quake AI “the financial engine of RUM Group going forward.” The statement sets a high bar: Quake AI must turn its growth into lower per-share losses, not merely add revenue.

For investors, the Anthropic contract and two-business model make Quake AI the clearest mechanism for changing Rumble’s revenue mix. The unit is now the company’s growth story, though not yet proof of profitability.

Why did shares move despite the wider loss?

Short interest in Rumble hit a record 8.8%, according to Koyfin data cited by 24/7 Wall St. The source noted that heavy short positioning can amplify a stock’s move in either direction, which helps explain the sharp reaction to the mixed report.

Lake Street initiated coverage in October with a Buy rating and a $25 price target, citing Rumble’s shift into AI infrastructure. Its endorsement gave bulls another reason to focus on the company’s expansion beyond media.

CoreWeave (NASDAQ:CRWV) added a sector-wide signal. It reported better-than-expected revenue and raised its 2026 guidance after the close on November 10, and AI infrastructure stocks rallied broadly, according to 24/7 Wall St. Because Quake AI rents the same kind of graphics processing unit capacity, the report treated CoreWeave’s results as a favorable read-through for Rumble.

Short of proving Rumble profitable, the backdrop gave traders reasons to reward the revenue beat over the wider loss.

How much of Trump Media’s profit came from operations?

Trump Media & Technology Group (NASDAQ:DJT) shares traded at $4.68, up 9%, according to 24/7 Wall St. The move extended a 5% gain in the prior session, which followed a November 9 report showing third-quarter profit driven by crypto and investment gains.

Net income reached $409.75 million. An SEC filing disclosed that the result rested almost entirely on $496.1 million in non-cash gains on digital assets and equity securities, according to 24/7 Wall St.

Removing those gains leaves a much smaller operating business, with $3 million in revenue and an adjusted earnings before interest, taxes, depreciation and amortization loss of $12.34 million. The adjusted loss narrowed from a year earlier, according to 24/7 Wall St.

The gap between accounting profit and operating revenue is the central comparison. Trump Media’s headline result looks far larger than the business that generated its day-to-day sales.

The company still operates Truth Social, Truth+ streaming, Truth.Fi investment products and the Truth API data-licensing product. Its pending merger with fusion developer TAE Technologies points the company toward energy, with a shareholder vote scheduled for December 14, according to 24/7 Wall St. Plainly, the 9% rally masks a small operating business beneath a large asset-driven profit.

Where does Meta fit?

Meta Platforms (NASDAQ:META) traded at $639, practically unchanged on the session, according to 24/7 Wall St. Its latest quarterly report came on October 21, ahead of the Rumble and Trump Media releases.

Meta runs Facebook, Instagram, Messenger and WhatsApp at global scale. It funds heavy AI infrastructure spending from its advertising business, which makes it a buyer of computing power while Rumble is building a business as a seller, 24/7 Wall St. said.

That puts Meta in a different position from both smaller stocks. Its AI spending supports existing advertising services, while Rumble’s growth depends on selling capacity and Trump Media’s latest profit depends mainly on financial assets. Meta offered a flat counterpoint to the sharper moves in Rumble and Trump Media.

Can Quake AI narrow Rumble’s losses?

Rumble’s next test is whether Quake AI’s growth can shrink the per-share loss that widened in Q3 2026, according to 24/7 Wall St. The bullish case rests on three points the source highlighted:

• Revenue cleared the $87 million to $93 million guidance range.
• The six-year Anthropic arrangement provides a high-profile customer.
• CoreWeave’s better-than-expected revenue and raised 2026 guidance offer a favorable sector read-through.

The risks run in the other direction. Record short interest can cut both ways, and higher borrowing costs weigh on capital-hungry AI builders. Austan Goolsbee of the Chicago Fed called the latest inflation report “borderline disturbing” as the Federal Reserve considered more rate hikes, according to 24/7 Wall St.

Quake AI’s ability to monetize its unused power capacity could shape Rumble’s profit outlook. Investors should watch whether that capacity produces narrower losses in the quarters ahead, according to 24/7 Wall St.

Trump Media has a separate dated catalyst: its December 14 shareholder vote on the TAE Technologies merger. For Rumble, the next quarterly results should show whether Quake AI can turn unused capacity into lower per-share losses; until then, the 6% rally rests on a revenue beat rather than a profit improvement.