Google parent company Alphabet (GOOGL) is acquiring data centre and energy infrastructure company Intersect for $4.75 billion U.S.
Alphabet said Intersect will remain independent, but that the acquisition will give it more data centre and power generation capacity as it expands its artificial intelligence (A.I.) offerings.
The acquisition of Intersect comes as Alphabet races to keep up with rival OpenAI, which has made $1.4 trillion U.S. of infrastructure commitments to build the data centres it needs.
Google already had a minority stake in Intersect from a previous funding round held in December 2024.
Alphabet said Monday that Intersect will work closely with Google’s technical infrastructure team, including on the company’s power site and data centre in Texas.
Alphabet has announced a $40 billion U.S. investment in Texas through 2027, which includes several new data centre campuses in the southern state.
The acquisition of Intersect is expected to close in the first half of 2026.
GOOGL stock has risen 64% this year to trade at $309.78 U.S. per share.
Tech Insider
