Intersect Selling Portion of Assets as Part of Alphabet Deal -- Market Talk

Dow Jones02:30

1330 ET - Intersect is selling a portion of its assets to existing investors which will be run as a separate company. The data center infrastructure provider announced the move as part of its acquisition by Google's parent Alphabet, which already owns a minority stake in Intersect. Intersect's existing assets in Texas and its operating and in-development assets in California wouldn't be included in its $4.75 billion acquisition, according to Alphabet. Those assets will be supported by existing investors TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. Intersect says the company will continue to build billions of dollars in new assets, including the world's largest battery energy storage system. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

December 22, 2025 13:30 ET (18:30 GMT)

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Those assets will be supported by existing investors TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. Intersect says the company will continue to build billions of dollars in new assets, including the world's largest battery energy storage system. 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The data center infrastructure provider announced the move as part of its acquisition by Google's parent Alphabet, which already owns a minority stake in Intersect. Intersect's existing assets in Texas and its operating and in-development assets in California wouldn't be included in its $4.75 billion acquisition, according to Alphabet. Those assets will be supported by existing investors TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. Intersect says the company will continue to build billions of dollars in new assets, including the world's largest battery energy storage system. (katherine.hamilton@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  December 22, 2025 13:30 ET (18:30 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2593432919","isCrawlerRequest":true}