3M stock rises 3% on $6B Amazon data center deal

3M Company (NYSE:MMM) shares rose 3% in after-hours trading after the company announced a strategic commercial agreement with Amazon involving data center products.

The industrial conglomerate issued a warrant to an Amazon subsidiary to purchase up to 3,162,015 shares of 3M common stock over a seven-year period at $164.89 per share, according to a securities filing. The deal, formalized on October 19, 2026, centers on 3M supplying optical connectivity and other data center products to Amazon.

Under the warrant structure, 85% of the shares will vest based on cumulative payments from Amazon for data center products, with full vesting occurring once payments reach $6 billion. The remaining shares will vest subject to event-based milestones, though specific details of those milestones were not disclosed in the filing.

The agreement represents an expanded strategic commercial relationship between the two companies, positioning 3M as a supplier for Amazon’s data center infrastructure needs.