Intersect

Alphabet is acquiring Intersect for $4.75 billion in cash plus debt assumption to bolster its data center and energy infrastructure. This strategic move aims to accelerate computing capacity and secure energy resources for AI development, a critical need amid intense competition. The deal integrates Intersect’s expertise in power generation with Alphabet’s data center expansion, particularly in Texas. Intersect’s California and some Texas assets will remain independent. The acquisition is expected to close by mid-2026.