MAPLEWOOD (dpa-AFX) - Industrial conglomerate 3M Co. (MMM) announced on Wednesday that it has expanded its strategic collaboration with Amazon Web Services, with AWS planning to deploy and scale 3M's Expanded Beam Optical technology in its data center infrastructure.
The companies said they would work together on optical connectivity and data center infrastructure technologies used in next-generation artificial intelligence systems.
3M said the collaboration and related investments are expected to support more than 500 jobs directly and indirectly, including the creation of more than 100 new positions through 2027 across Minnesota, Texas and Wisconsin.
The company added that it expects its optical connectivity business to contribute nearly $0.5 billion to the U.S. economy through investments aimed at accelerating innovation in optical networking and fiber termination technologies.
3M said the collaboration builds on its previously announced plan to double production capacity at its Menomonie, Wisconsin, manufacturing facility and would support manufacturing partners involved in expanding production capacity.
On the NYSE, shares of 3M were losing 0.09 percent, changing hands at $171.21.
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