Alphabet Buys Intersect

Benzinga

Alphabet agreed to acquire data center and energy infrastructure firm Intersect for $4.75B, aiming to accelerate data center expansion and power generation to support Google’s growing AI and cloud needs.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:03Alphabet on Monday announced it will acquire Intersect, a data center and energy infrastructure

00:08company, for $4.75 billion in cash and the assumption of debt, according to CNBC.

00:15Alphabet said Intersect will remain independent and help bring more data center and power

00:21generation capacity online faster. CEO Sundar Pichai said Intersect will help Alphabet expand

00:28capacity, coordinate new power generation with data center growth, and develop new energy

00:34solutions to support U.S. innovation and leadership.

00:38Google already held a minority stake in Intersect from a funding round announced last December.

00:44Alphabet said Intersect will work closely with Google's technical infrastructure team,

00:49including on a co-located power site and data center in Haskell County, Texas.

00:54Google has announced a $40 billion investment in Texas through 2027 that

00:58includes new data center campuses in Haskell and Armstrong counties.

01:02For all things money, visit Benzinga.com.

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