Generac Holdings Inc. Stock News

Further momentum in the C&I segment drives significant backlog increase; Residential segment returns to strong growth in the quarter supported by lower power quality mega-trends Further momentum in the C&I segment drives significant backlog increase; Residential segment returns to strong growth in the quarter supported by lower power quality mega-trends

Generac Holdings Inc (NYSE:GNRC) signed a long-term agreement to supply backup generators for Amazon.com Inc (NASDAQ:AMZN) data centers, with initial deliveries expected to total about $2.4 billion in 2027 and 2028. The US power equipment maker's shares surged nearly 18% in Thursday morning trading.

Shares of Generac are surging after the energy hardware maker announced a multi-billion dollar deal with Amazon.

Chip and memory stocks are trading higher as investors shrug off concerns about an AI slowdown.

Generac stock (NYSE: GNRC) surged about 34% in extended trading on Wednesday after Amazon committed billions of dollars to backup generators for its expanding data-centre network, but the agreement gives Amazon more than equipment. Generac expects initial deliveries worth $2.4 billion across 2027 and 2028, while payments tied to the broader relationship could reach $8 billion.

U.S. power equipment maker Generac has signed a long-term agreement ​to supply backup generators for Amazon ‌data centers, with initial deliveries expected to total about $2.4 billion in 2027 ​and 2028, a regulatory filing ​showed on Wednesday.

First deliveries of Generac's backup power generators are worth $2.4 billion.