Modine Stock Soars on Report Naming Google and Amazon as Data Center Customers
Modine Manufacturing Co. (NYSE:MOD) shares are soaring after an investigative report revealed that Google and Amazon are behind two major data center cooling agreements.
The report from Hunterbrook Media analyzed a leaked internal planning database from Modine, which showed the company's $4 billion agreement with an unnamed customer to supply Airedale chillers through 2029. The database ties this arrangement to Google, as well as another layer of business worth around $4.5 billion, with Amazon's cloud unit accounting for over half that sum.
The report also estimated Modine's overall pipeline at close to $23 billion, with Amazon's cloud division alone accounting for over half that amount. Hunterbrook Media noted that their affiliated fund, Hunterbrook Capital, holds a long position in Modine shares and a short position in comparable companies.