Alphabet to Buy Intersect for $4.75 Billion Deal
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Mountain View, Calif. Alphabet announced on Dec. 22 that it will acquire energy and data-center developer Intersect for $4.75 billion to secure power for artificial intelligence workloads. The company said it will allow Intersect to operate independently after the deal, which follows a prior Google investment and project collaborations. Intersect previously raised $2.1 billion; it has about $15 billion in operating or pipeline assets and projects expected to represent about 10.8 gigawatts by 2028. The acquisition transfers projects, employees and energy capacity and corporate partners to Alphabet as it expands AI infrastructure. Based on 6 articles reviewed and supporting research.
More context
Timeline
- 1. Google invested in Intersect roughly one year before the acquisition announcement.
- 2. Intersect raised about $2.1 billion from investors prior to the deal.
- 3. On Dec. 22 Alphabet announced agreement to buy Intersect for $4.75 billion.
- 4. Alphabet said the acquisition is expected to close in the first half of next year.
- 5. Intersect projects representing roughly 10.8 GW are expected online or in development by 2028.
Sources
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