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AMZN
• NeutralAmazon
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/19/2026 | 262.45 |
| Change that session | +4.98% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Amazon Gets Warrant to Buy $521.4 Million of 3M Stock in Expanded Data Center Partnership: MMM Rises Over 5% After Hours
Amazon expanded its data center partnership with 3M and received a warrant to buy about $521.4 million of 3M stock. 85% of the warrant shares vest based on Amazon's payments for optical connectivity and other data center products, with full vesting once cumulative payments reach $6 billion. 3M issued the warrant to an Amazon subsidiary for up to 3.16 million shares at $164.89 each, exercisable over seven years. Apollo Global Management estimates U.S. hyperscalers could spend $916 billion on capital expenditures over the next 12 months. In after-hours trading, 3M rose 5.43% to $170.80 after closing 1.66% lower at $162.01, while Amazon closed 4.98% higher at $262.45.
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3M shares rose about 4.4% to around $169 in pre-market trading after the company gave Amazon a warrant for up to 3,162,015 shares at $164.89 each over seven years, tied to Amazon's data center purchases. Shares vest as Amazon pays for optical connectivity and other data center products, fully at $6 billion in cumulative payments, though nothing in the filing commits Amazon to buy. Spread evenly over seven years, that is about $857 million a year, roughly 3.4% of 3M's trailing revenue of $25.18 billion and 1.4 times the about $600 million 3M expects from data center work in 2026. Under US accounting rules the warrant reduces revenue, and 3M has not disclosed its fair value. Adjusted EPS of $2.50 beat the $2.39 consensus, but the article says the beat is smaller once the exclusion of intangible amortization is considered, and guidance rose to $9.10 to $9.15.
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According to an SEC filing, 3M granted an Amazon subsidiary a warrant to acquire up to about 3.16 million shares over seven years at $164.89 per share, and 3M stock rose 5.5% overnight. Most of the shares (85%) vest when Amazon's cumulative payments for optical connectivity and other data center products reach $6 billion, while the remaining 15% tie to event-based milestones the filing does not detail. Microsoft said in July it would use 3M's Expanded Beam Optical (EBO) technology in its Azure AI data centers, reflecting growing networking needs as AI expands. On Monday, 3M also announced a partnership with Taiwan-based Genius Electronic Optical Co. (GSEO) and a planned share purchase giving it an approximately 4.7% stake, with closing expected in the fourth quarter.
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3M shares rose 3% in after-hours trading after announcing a strategic commercial agreement with Amazon covering data center products. Under the deal, 3M issued an Amazon subsidiary a warrant to buy up to 3,162,015 shares at $164.89 per share over seven years. 85% of the shares vest based on cumulative Amazon payments for data center products, with full vesting once payments reach $6 billion, while the remainder depends on event-based milestones not detailed in the filing. The agreement, formalized on October 19, 2026, centers on 3M supplying optical connectivity and other data center products to Amazon.
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