Dec 22 (Reuters) – Alphabet (GOOG) said on Monday it would buy data center and energy infrastructure provider Intersect for $4.75 billion in cash, plus assumed debt, as tech giants ramp up spending to expand computing and power capacity necessary for developing AI.
Under the deal, Alphabet will acquire Intersect’s multiple gigawatts of energy and data center projects in development or under construction.
Intersect will also explore a range of emerging technologies to increase and diversify energy supply, while supporting Google’s U.S. data center investments, Alphabet said.
Its operations will remain separate from Alphabet and Google under the Intersect brand and its existing operating assets in Texas, and its operating and in-development assets in California will not be part of the acquisition.
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shilpi Majumdar)