Google-parent Alphabet to buy data centre company Intersect in $4.75 billion deal

Google’s parent company Alphabet has announced that it will acquire data centre and energy infrastructure provider Intersect for $4.75 billion in cash as the company moves to secure the power and infrastructure required to meet the needs to run artificial intelligence (AI) infrastructure. Power supply has become the primary bottleneck in the development of generative AI and increase in computing capacity.

Under the terms of the deal, Alphabet will take control of Intersect’s massive pipeline of projects, which include multiple gigawatts of energy and data centre developments currently under construction.