Intersect focuses on finding ways to increase and diversify the supply of energy in an effort to keep power costs down.

Alphabet, Google’s parent company, has agreed to acquire energy and data center infrastructure firm Intersect in a $4.75 billion cash deal, deepening its push to secure power for the next wave of AI growth.

Google-parent said it would buy Intersect’s data-center projects that are in development, plus multiple gigawatts of energy and the Intersect team as part of the deal.

The deal to buy Intersect for $4.75bn in cash, plus debt, broadens Alphabet’s access to power at a time when the technology giant is competing with rivals including OpenAI, Elon Musk’s xAI and Meta to train and run energy-intensive AI models.

Alphabet Inc. today inked a deal to acquire Intersect Power LLC for $4.75 billion in cash. The Google LLC parent also plans to assume the renewable energy company’s outstanding debt. It expects to complete the transaction in the first half of 2026. According to the search giant, the deal is intended to expedite its data center construction efforts.