Amazon received warrants to buy up to 1.69 million Generac shares at $200.93 each, about $340 million worth, under a deal for Generac to supply backup generators to Amazon data centers. Generac shares rose more than 40% in extended trading once the securities filing landed. Roughly 308,000 of those shares vested right away, with the rest tied to what Amazon pays for generators, starting at $2.4 billion across 2027 and 2028 and potentially reaching $8 billion. The full grant amounts to almost 3% of a company worth about $10.3 billion. Amazon did the same with Qualcomm last week, taking warrants on as much as $4 billion of its stock alongside a deal to use its AI chips, and it holds similar positions in Astera Labs, ATSG, Plug Power, and SpartanNash.
