3M Stock Climbs After Amazon Warrant Deal for Data-Center Products
3M granted Amazon warrants for up to 3.1 million shares tied to $6 billion of data-center purchases. The stock rose more than 5% in after-hours trading.
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what happened
According to the Wall Street Journal, 3M said it issued warrants letting Amazon buy up to 3.1 million shares over seven years. The arrangement is linked to supplies of data-center products.
The company's shares gained more than 5% in after-hours trading. The exercise price is $164.89, slightly above Monday's close of $162.01. Most of the shares will vest once Amazon spends $6 billion on optical connectors and other data-center products. According to 3M, Amazon's stake would be under 1% of shares outstanding.
why it matters
The deal shows how large cloud providers are tying suppliers to their own purchases and taking equity stakes in them. For investors in 3M, it adds a new source of demand from AI infrastructure, but the payoff depends on Amazon's actual spending.
market impact
3M: a large new data-center customer supports the company's shares
tags
instruments
sources
- 3M Shares Rise on Amazon Data-Center Deal — WSJ, 19 October 2026 at 22:29 UTC
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