Generac Jumps ~34% Premarket as Amazon Obtains Warrant for Up to $340M in Stock

The warrant structure matters more than the headline move: Amazon is tying itself to a physical power-equipment supplier rather than simply signing a procurement deal, which signals that backup generation capacity is being treated as a strategic input for cloud buildouts. The read-through is visible in the sympathy bid across Nebius, CoreWeave and Oracle, suggesting the market is repricing the whole power-constrained data-center chain, not just Generac. Whether that halo holds once the initial premarket reaction fades — and whether other hyperscalers pursue similar equity-linked supply arrangements — is the open question worth tracking.