Google's parent company, Alphabet, acquires Intersect Power to further its AI efforts
Alphabet has announced that it has acquired Intersect Power, a data center and clean energy developer.
Alphabet Investor Relations - Alphabet Announces Agreement to Acquire Intersect to Advance US Energy Innovation
Alphabet to buy Intersect Power to bypass energy grid bottlenecks | TechCrunch
Google's parent company, Alphabet, is acquiring Intersect Power for $4.75 billion and assuming the company's debt. The acquisition will allow Alphabet to expand its generating capacity in conjunction with new data centers without relying on regional power companies that are struggling to meet the growing demand from AI companies.
Alphabet took a minority stake in Intersect Power's funding round in December 2024, partnering with the company to develop data centers and clean energy.
Regarding the acquisition, Google said, 'This transaction includes multi-gigawatt energy projects built on existing successful partnerships. It will bring more data centers and power generation capacity online faster, accelerating energy development and innovation.'
Intersect Power's operations will be independent of Alphabet and Google, and will be managed under the Intersect Power brand by Intersect Power CEO Sheldon Kimber. 'We've always been focused on bringing innovation to our industry, and we look forward to accelerating that work at scale as part of Google,' said Kimber. 'Modern infrastructure is key to America's competitiveness in AI, and we share Google's belief that energy innovation and investment in local communities will be pillars of our future.'
Because AI development and operation requires large amounts of electricity, technology companies such as Google are focusing on securing power infrastructure, and Google is even considering using nuclear energy.
Google announces new plan to power data centers with next-generation nuclear reactors - GIGAZINE
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