3M Company has issued a seven-year warrant covering up to 3,162,015 shares to an Amazon.com, Inc. subsidiary, tying most of the potential stake to payments for data center products.
In an Oct. 19 SEC filing, 3M also disclosed an expanded commercial relationship with a different Amazon subsidiary. The warrant has an exercise price of $164.89 per share, which the holder would pay to acquire vested shares.
Amazon’s payments for optical connectivity and other data center products determine when 85% of the warrant shares vest. That portion vests in full if cumulative qualifying payments reach $6 billion. Event-based milestones govern the remaining 15%, but 3M did not specify them. The filing does not describe the $6 billion threshold as an Amazon spending commitment or give a timetable for reaching it.
At 8 p.m. ET on Oct. 19 (00:00 UTC Oct. 20), MarketScreener quoted 3M shares at $170.75, up 5.39% from its quoted regular-session close of $162.01.
In a separate Oct. 19 announcement, 3M said it planned to acquire newly issued common shares in Genius Electronic Optical Co., Ltd., amounting to a stake of approximately 4.7%. The companies are collaborating on manufacturing 3M’s Expanded Beam Optical technology. 3M expects the investment to close in the fourth quarter of 2026, subject to conditions.
The planned investment follows a July announcement by 3M and Microsoft of a planned deployment of the optical technology in Microsoft’s Azure Cloud and AI Infrastructure.
3M is scheduled to hold its third-quarter 2026 earnings call on Oct. 20 at 9 a.m. ET (13:00 UTC).
