Alphabet Buys Intersect Power for $4.75 Billion to Fuel AI Data Centers

• Alphabet Inc. will acquire clean energy developer Intersect Power LLC for $4.75 billion cash plus debt.
• The acquisition aims to secure more electricity for Google's data centers, crucial for expanding its AI infrastructure amidst surging power demand.
• Intersect specializes in clean energy solutions like solar and battery storage, with $15 billion in assets, helping Google balance climate goals with AI energy needs.
• Google's CEO Sundar Pichai stated the deal will expand capacity, improve agility in building new power generation, and drive energy innovation.
• Intersect will retain its brand and CEO Sheldon Kimber; assets contracted for other clients are not part of the acquisition.

Why It Matters: Alphabet's $4.75B Intersect acquisition boosts AI data center power, addressing surging energy demands.