3M expands Amazon data center partnership, with warrants tied to up to $6B in purchases
3M said it is expanding its commercial partnership with Amazon and moving further into AI data center infrastructure, while issuing warrants to an Amazon wholly owned subsidiary that can buy up to 3.162 million 3M shares at $164.89 each over seven years, worth more than $521 million. About 85% of the warrant shares vest as Amazon pays for optical connectivity and other data center products, with that portion fully vesting at $6 billion in cumulative purchases; the remaining 15% vests only after specific milestone conditions are met. 3M shares rose more than 5% in after-hours trading after the announcement, and the report noted that in July Microsoft became the first hyperscale cloud provider to use 3M's expanded beam optics in an AI data center.
According to the report, pairing warrants with product purchases lets suppliers grow revenue on large customers' long-term demand while giving those customers closer commercial ties to key suppliers.
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美國工業與材料大廠 3M 宣布擴大與亞馬遜的商業合作關係，進一步切入 AI 資料中心基礎設施市場。3M 同時向亞馬遜旗下子公司發行認股權證，讓亞馬遜有權在未來 7 年內認購價值超過 5.21 億美元的 3M 普通股。消息公布後，3M 股價在盤後交易上漲逾 5%，反映市場對雙方合作前景的正面看法。
根據 3M 於 19 日公布的協議，公司向亞馬遜旗下全資子公司發行認股權證，亞馬遜最多可在未來 7 年內，以每股 164.89 美元的價格認購 316.2 萬股 3M 普通股。
3M 表示，約 85% 的認股權股份將依據亞馬遜採購光學連接及其他資料中心產品的付款進度逐步歸屬；當累計採購金額達到 60 億美元時，這部分股份的認股權將全數歸屬。其餘 15% 則須達成特定里程碑條件後才能歸屬。換言之，亞馬遜未來對 3M 相關產品的採購規模，將是這項合作的重要關鍵。