12 Best Cloud Computing Stocks to Buy According to Analysts

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6) Rumble Inc. (NASDAQ:RUM)

Number of Hedge Fund Holders: 6

Average Upside Potential: 18.6%

Rumble Inc. (NASDAQ:RUM) operates video-sharing platforms in the US, Canada, and internationally. Rumble Cloud is a cloud infrastructure offering solutions like virtual machines, and virtual private cloud services, among others. This infrastructure can be utilized by companies for hosting applications, running workloads, and building scalable cloud-native solutions. Rumble Inc. (NASDAQ:RUM)’s stock saw an increase of ~34.6% in just a month, primarily due to a $775 million investment from Tether.

Apart from providing Rumble Inc. (NASDAQ:RUM) with significant capital to support its growth and strategic initiatives, the investment also enhanced investor confidence in its future growth prospects. The company’s partnership with Tether can open avenues for collaborations in advertising, cloud services, and cryptocurrency payment solutions. This can further fuel Rumble Inc. (NASDAQ:RUM)’s market position.

Part of the funds is expected to be earmarked to scale Rumble Inc. (NASDAQ:RUM)’s infrastructure, which can include enhancing Rumble Cloud’s capabilities. This will involve the upgradation of data centers, adding more compute and storage resources, and making sure that the platform is suitable to handle increased demand as users expand their cloud services usage. The partnership with Tether can result in integration with cryptocurrency or blockchain services within Rumble Cloud. This can include providing cloud services that are optimized for cryptocurrency applications or decentralized (DeFi) projects, further enhancing Rumble Cloud’s use cases.

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