Tech
Alphabet to buy clean energy developer Intersect in $4.75 billion deal amid AI push
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Alphabet said on Monday it would buy clean energy developer Intersect for $4.75 billion in cash, plus assumed debt, as tech giants spend billions to expand the computing and power capacity necessary for developing artificial intelligence.
Big Tech has ramped up investments in energy firms as U.S. power grids struggle to keep pace with the soaring electricity demand of generative AI amid an intensifying race to capitalize on the booming technology.
Under the deal, the Google parent will acquire Intersect’s energy and data center projects…
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