Alphabet's acquisition of data center partner Intersect for $4.75 billion.

Golden Finance reports that Google's parent company Alphabet (GOOG.O) has agreed to acquire clean energy developer Intersect Power LLC for $4.75 billion in cash plus taking on existing debt. This is one of the largest transactions the company has made to significantly expand its data center capacity to support its artificial intelligence business. Currently, the aging power grid in the U.S. is struggling to meet the first surge in electricity demand in decades due to AI development, new factory construction, and economic electrification. This acquisition aims to secure more power supply for Google's data centers. According to previous media reports, Google already held a minority stake in this energy supplier by building a large power plant near the data center campus in partnership with Intersect last year. Sundar Pichai, CEO of Google and Alphabet, stated in a press release: “Intersect will help us scale our capacity, operate more flexibly in building new power generation facilities to accommodate new data center loads, and reimagine energy solutions to drive innovation and leadership in the U.S.”