Amazon Commits Up to $8B to Generac for Data Center Generators and Takes a Warrant for the Privilege
Bloomberg·high signal
Amazon signed a long-term generator supply agreement with Generac worth up to $8 billion, and received a warrant covering up to roughly 2.6% of Generac equity as part of the deal. Generac shares jumped 30-40% on the news. The warrant structure is becoming the standard hyperscaler move: lock the supply, then capture the equity upside the contract itself creates.