Google just spent $4.75B chasing power for AI data centers

Alphabet is buying energy and data center developer Intersect for $4.75 billion in cash, plus the assumption of debt – a clear signal that securing power, not just servers, has become one of Google’s biggest bottlenecks as AI demand explodes.

Google just bought an energy developer

Google already owns a minority stake in Intersect from a previous funding round. Once the deal closes, Intersect will be expected to help bring new data centers and power generation online faster, supporting Google’s rapidly growing cloud and AI workloads.

Intersect was founded in 2016 and was initially based in Beaverton, Oregon, before moving its headquarters to San Francisco this year. The company boasts a substantial pipeline of projects, encompassing multiple gigawatts of energy and data center capacity, either under construction or in development, through its existing partnership with Google. It says it will continue to explore emerging…