MMM shares lead Dow Jones gains after Microsoft Azure adopts its expanded beam optics technology for data centers.
3M’s stock rose sharply Wednesday after the company announced Microsoft Azure will deploy its new optical technology in data centers. MMM is the top performer on the Dow Jones Industrial Average, signaling potential investor interest in the sector.
3M previously disclosed on its April 21 earnings call that its expanded beam optics technology had received validation and a significant order. The deal underscores growing demand for advanced data center solutions amid rising AI and cloud computing needs.
The move contrasts with broader market sentiment, as traders in prediction markets assign an 88% chance of an S&P 500 decline in the near term.