Alphabet, Google’s parent company, announced it is acquiring Intersect, a data center energy specialist, for $4.75 billion to support the massive electricity demands of AI technologies. Having previously invested $2.1 billion in Intersect, Alphabet plans to complete the acquisition in the first half of next year and allow Intersect to maintain operational independence. Intersect specializes in diversifying energy supply to manage costs for data centers powering AI services like those of Google and OpenAI. This move comes amid local concerns about increased electricity bills linked to booming AI data centers. Alphabet’s growing AI presence has boosted its stock value by over 60% this year, adding significant shareholder wealth.
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