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Google's parent buys data center energy specialist Intersect for $4.75 billion to help power AI [Globe and Mail, The (Toronto, Canada)]
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billion as part of its effort to secure the vast amounts of electricity needed to power artificial intelligence technology. Alphabet, which depends on Google's search engine and other online services for most of its revenue, is buying out Intersect in its entirety after purchasing a stake in the San Francisco-based startup a year ago. Intersect had previously raised $2.1 billion from Google and other early investors. After the acquisition is completed during the first half of next year, Alphabet intends to allow Intersect to operate independently while continuing its efforts to secure the energy sources needed for the sprawling data centers being built to power the AI services rolling out from Google and rivals such as OpenAI. The power-hungry data centers, which are being likened to AI factories, is fueling a backlash in communities where residents have been interpreting their steadily rising electricity bills as evidence that they help helping footing the boom for a technology
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- Alphabet Buying Clean Energy Developer to Support Data Centers [Yahoo! Finance][Yahoo! Finance]
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- Alphabet set to buy data center, energy infrastructure developer Intersect for $4.75 billion in cash [Business Insider][Business Insider]
- Google's parent buys data center energy specialist Intersect for $4.75 billion to help power AI [Yahoo! Finance][Yahoo! Finance]
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