Alphabet officially acquires Intersect, a data center energy specialist. The $4.75 billion deal is intended to address the critical shortage of electricity needed to develop AI technologies. A year ago, the tech giant already acquired a stake in this startup, and now decided to fully integrate it into its structure. This is reported by the Associated Press, writes UNN.
Details
After the deal closes in the first half of 2026, Intersect will operate independently. The company's main goal is to diversify energy sources and curb electricity prices, which is important amid public discontent over rising utility bills in regions where data centers are located.
Intersect is already building a giant data center for Alphabet in Texas (Haskell County). Thanks to the AI boom, Alphabet's capitalization has grown by $1.4 trillion this year.
Intersect focuses on finding ways to increase and diversify energy supply to keep electricity costs low