3M expands Amazon data center partnership, shares gain

What happened: 3M said it is expanding its commercial relationship with Amazon and issued a warrant to an Amazon subsidiary for the right to buy 3M common stock worth over $521 million. Key numbers: Warrant covers up to 3.16 million shares over seven years at $164.89 per share. Why it matters: The deal deepens 3M's ties to a major technology buyer as tech companies increase data-center spending to support AI and cloud growth. In July, Microsoft became the first hyperscaler to adopt 3M's Expanded Beam Optics technology in AI data centers. Coverage: 4 outlets in 24h

3M said it is expanding its commercial relationship with Amazon and issued a warrant to an Amazon subsidiary for the right to buy 3M common stock worth over $521 million.

The deal deepens 3M's ties to a major technology buyer as tech companies increase data-center spending to support AI and cloud growth. In July, Microsoft became the first hyperscaler to adopt 3M's Expanded Beam Optics technology in AI data centers.