Alphabet to Acquire Data Center Firm Intersect for $4.75 Billion

Deep News00:41

Alphabet (GOOG) announced on Monday its plan to acquire Intersect, a data center and energy infrastructure provider, for $4.75 billion in cash plus assumed debt. The move comes as tech giants ramp up investments to expand computing power and energy capacity needed for artificial intelligence development.

Under the agreement, Alphabet will acquire multiple energy and data center projects from Intersect, currently in development or construction phases, with a total capacity in the gigawatt range.

Alphabet stated that Intersect will also explore emerging technologies to scale and diversify energy supply while supporting Google's data center investments in the U.S.

Post-acquisition, Intersect will continue operating under its own brand, maintaining relative independence without integration into Alphabet or Google. The deal excludes Intersect's operational assets in Texas and both operational and developmental assets in California.

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