Alphabet to buy clean energy developer Intersect in $4.75 billion deal amid AI push

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Alphabet said ‍on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed ⁠debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence.

Big Tech has ramped up investments in energy firms as ‌U.S. power grids ‌struggle to keep pace with the soaring electricity demand of generative AI amid an intensifying ‌race to capitalize on the booming technology.

Under the deal, the Google parent will acquire Intersect’s energy and data center projects



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Alphabet to buy clean energy developer Intersect in $4.75 billion deal amid AI push



Alphabet said ‍on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed ⁠debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence.

Big Tech has ramped up investments in energy firms as ‌U.S. power grids ‌struggle to keep pace with the soaring electricity demand of generative AI amid an intensifying ‌race to capitalize on the booming technology.

Under the deal, the Google parent will acquire Intersect’s energy and data center projects



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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