Alphabet Acquires Intersect for $4.75 Billion to Boost U.S. Energy Innovation and Data Center Capacity
Summary
Alphabet acquires Intersect for $4.75 billion in cash plus debt to accelerate U.S. energy innovation and expand data center capacity, with the deal including multiple gigawatts of projects in development and expected closure in first half of 2026.
Key Points
- Alphabet announces definitive agreement to acquire Intersect for $4.75 billion in cash plus assumed debt to advance U.S. energy innovation and data center capacity
- Intersect will operate separately under its existing brand and CEO Sheldon Kimber while partnering with Google's technical infrastructure team on joint projects including a Texas facility under construction
- The deal includes multiple gigawatts of energy and data center projects in development but excludes Intersect's existing Texas and California operating assets, with closing expected in first half of 2026