3M issues warrant to Amazon in $6B data center product deal

3M Company (NYSE: MMM) announced it has entered into an expanded strategic commercial relationship with a wholly-owned subsidiary of Amazon.com, Inc., according to a company statement.

As part of the agreement, dated October 19, 2026, 3M issued a warrant to a separate wholly-owned subsidiary of Amazon, allowing it to purchase up to 3,162,015 shares of 3M common stock over a seven-year period at a price of $164.89 per share.

Under the terms, 85% of the warrant shares will vest based on payments from Amazon for optical connectivity and other data center products, with full vesting triggered once cumulative payments reach $6 billion. The remaining warrant shares are subject to event-based milestones.

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