Tesla co-founder’s company gets Google as investor at $6 billion valuation
As electricity demand surges with the rise of artificial intelligence, Google, along with companies including Amazon and Microsoft, is making investments aimed at securing access to more electricity for data centers. In what can be termed as a step in that direction, Google is backing company founded by Tesla co-founder. According to a report by Bloomberg, Redwood Materials Inc has added Alphabet Inc’s Google as an investor in an expanded funding round that values the battery recycling and energy storage startup at more than $6 billion. Redwoods is led by Tesla Inc co-founder JB Straubel.
