Rumble Inc. (RUM) saw its stock surge 5.31% in intraday trading on Monday, as the video-sharing and cloud services provider benefited from positive developments related to El Salvador's efforts to become a hub for digital currencies and technology adoption.

One key catalyst for Rumble's stock price increase was the announcement of a cloud services deal with the Government of El Salvador. Under this agreement, Rumble will provide cloud storage, compute services, databases, load balancers, and Kubernetes integration to the Central American country. This deal highlights Rumble's ability to handle government data and compute demands, and could open up more opportunities for the company in the future.

Additionally, the cryptocurrency firm Tether and its founders announced plans to move their headquarters and operations to El Salvador. This move aligns with El Salvador's push to establish itself as a hub for digital currency trading, having previously made bitcoin legal tender alongside the U.S. dollar. With Rumble positioning itself as a provider of infrastructure services for those seeking alternatives to Big Tech companies, the company is well-positioned to benefit from the growing adoption of digital currencies and decentralized technologies in El Salvador.