Generac soars on $8 billion Amazon data center supply agreement
16/09/2026 23:03
BUZZ-Generac soars on $8 billion Amazon data center supply agreement Sept 16 - ** Shares of power equipment maker Generac Holdings up 34.77 % at $236 after the bell
** Co strikes deal with amazon for backup power generators for Amazon AMZN.O data centers
** Under deal, Generac provides Amazon a warrant to acquire up to 1.7 mln shares of the company at an exercise price of $200.9266 p er share.
** Issuing of warrant is tied to a long-term backup power generator supply agreement for Amazon data centers, with shares vesting based on up to $8 billion in aggregate payments by Amazon
** Initial deliveries under the agreement are expected to total $2.4 billion in 2027 and 2028
** As of last close, stock up 28.44% YTD
(Reporting by Zakia Mariyam in Bengaluru)