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Alphabet to acquire Intersect for $4.75bn in AI push [Yahoo! Finance]
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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US:NASDAQ Investor Relations: abc.xyz/investor
In a statement, Alphabet said the deal will “enable more data center and generation capacity to come online, faster, while accelerating energy development and innovation”. Last month, Google disclosed plans to invest $40bn in Texas, US, by 2027, focusing on scaling its cloud and AI infrastructure. The transaction includes Intersect's portfolio of energy and data centre projects currently in development or under construction through its partnership with Google. Upon completion, Intersect will continue to operate independently under its own brand, led by Sheldon Kimber, and will maintain a close working relationship with Google's technical infrastructure team on ongoing and future projects. Google already holds a minority stake in Intersect from an earlier funding round. The two companies are collaborating on their first co-located data centre and power site in Haskell County, Texas. Intersect plans to investigate emerging technologies that could help increase and diversify
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