Generac Inks $8B Amazon Deal
Generac has reached an eight billion dollar agreement to supply backup power generators for Amazon data centers. The multiyear partnership includes initial deliveries scheduled through 2028 and drove a significant market response.
GENERAC HOLDINGS INC signed an $8 billion supply agreement with AMAZON.COM INC during Monday morning trading to deliver industrial backup generators for data centers. The multiyear contract includes initial deliveries scheduled through 2028 valued at $2.4 billion. United States markets responded sharply, driving the power equipment manufacturer's shares up over 40% on Sept. 16.
The accord establishes Generac as a primary infrastructure partner for cloud data hubs. As part of the arrangement, Amazon secured warrants to purchase up to 307,954 shares of Generac stock at nearly $201 per share.
