On September 17, Generac surged 34.06% overnight, trading at $234.76 per share, with turnover of $50,400. The rally was driven by the announcement of a landmark long-term supply agreement with Amazon to provide backup power generators for its data centers.

Under the agreement, initial deliveries are expected during the 2027-2028 timeframe, with the first tranche valued at $2.4 billion and total contract value capped at up to $8 billion. As part of the deal, Generac issued warrants to Amazon's investment entity, Amazon.com NV Investment Holdings, allowing Amazon to purchase up to approximately 1.69 million shares at an exercise price of $200.9266 per share — representing roughly 3% of Generac's outstanding stock. Approximately 307,954 warrant shares vested immediately, with the remainder vesting in tranches contingent upon payments received from Amazon. Amazon frequently uses warrant acquisitions and equity stakes to strengthen supply chain partnerships.

Generac Holdings Inc., founded in 1959 and headquartered in Waukesha, Wisconsin, is a global leader in energy technology solutions, designing and manufacturing power generation equipment, energy storage systems, and energy management devices for residential, commercial, and industrial markets.

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