Alphabet said the deal is aimed at bringing new power and data center capacity online faster to meet growing cloud demand.
Alphabet (GOOG, GOOGL) said on Monday it has agreed to acquire Intersect for $4.75 billion in cash, plus the assumption of debt, as it looks to accelerate the buildout of data centers and power generation capacity to support growing demand for its cloud and AI services.
The deal is expected to close in the first half of 2026. Google already owns a minority stake in Intersect from a previously announced funding round, Alphabet said.
Alphabet said the acquisition will help bring new data centre and energy capacity online faster, while speeding up energy development and innovation. The transaction includes Intersect’s team and multiple gigawatts of energy and data center projects that are under development or construction through its existing partnership with Google.
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