Alphabet Acquires Data Center and Energy Infrastructure Company Intersect For $4.75 Billion

Alphabet is acquiring Intersect for $4.75 billion to accelerate data center and power-generation capacity as AI infrastructure demand surges. CNBC reports: Alphabet said Intersect's operations will remain independent, but that the acquisition will help bring more data center and generation capacity online faster. 'Intersect will help us expand capacity, operate more nimbly in building new power generation in lockstep with new data center load, and reimagine energy solutions to drive U.S. innovation and leadership,' Sundar Pichai, CEO of Google and Alphabet, said in a statement.

Google already had a minority stake in Intersect from a funding round that was announced last December. In a release at the time, Intersect said its strategic partnership with Google and TPG Rise Climate aimed to develop gigawatts of data center capacity across the U.S., including a $20 billion investment in renewable power infrastructure by the end of the decade.

Alphabet said Monday that Intersect will work closely with Google's technical infrastructure team, including on the companies' co-located power site and data center in Haskell County, Texas. Google previously announced a $40 billion investment in Texas through 2027, which includes new data center campuses in the state's Haskell and Armstrong counties.

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