Alphabet Acquires Intersect Power in $4.75B Deal to Secure AI Data Center Energy Supply

Alphabet has agreed to acquire Intersect Power, a clean energy and data center developer, for $4.75 billion in cash while assuming the company’s outstanding debt, strengthening its ability to power large-scale AI infrastructure. The transaction enables Google’s parent company to pair new data centers directly with renewable energy generation, reducing reliance on constrained local power grids as AI compute demand accelerates.

Alphabet previously held a minority stake in Intersect Power following an $800 million strategic investment led by Google and TPG Rise Climate, which set a long-term $20 billion investment ambition through 2030. The acquisition includes Intersect’s future development pipeline but excludes its existing operating assets, which will be separated under new ownership.

Intersect’s renewable-powered data parks are expected to begin operations in late 2026, supporting Alphabet’s expanding AI workloads.

James Dargan

James Dargan is a writer and researcher at The AI Insider. His focus is on the AI startup ecosystem and he writes articles on the space that have a tone accessible to the average reader.

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