Modine Stock Soars on Report of $23B Data Center Pipeline with Google and Amazon

Modine Manufacturing Co.'s (NYSE:MOD) stock price surged on Friday after an investigative report by Hunterbrook Media named Google and Amazon as customers behind a $4 billion cooling agreement. The report claims that internal Modine planning database files leaked online reveal the companies' involvement in the deal.

Hunterbrook Media obtained material from the leaked files, which are believed to have originated from Alphabet Inc.'s (NASDAQ:GOOG) cloud infrastructure. According to the report, Google is tied to a supply arrangement disclosed by Modine in May without naming the customer, which commits Modine to setting aside capacity for over $4 billion worth of Airedale chillers through 2029.

The leaked database reportedly also points to close to $3 billion in locked-in or highly probable business from Amazon's cloud unit, Crusoe, and more than a dozen other data center clients. Hunterbrook estimated Modine's overall pipeline at close to $23 billion, with Amazon's cloud division alone accounting for over half that sum.