Alphabet agreed to acquire Intersect Power, a developer of data-center and energy infrastructure, for $4.75 billion in cash plus the assumption of debt.
The transaction includes Intersect's gigawatt-scale energy and data-center projects under development or construction and aims to accelerate power generation capacity to support Alphabet's growing U.S. data-center demand.
Intersect Power will continue operating under its own brand and leadership, with closing expected in the first half of 2026, subject to customary conditions.