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Google Buys Data Center Company for $4.75 Billion

Google has agreed to buy Intersect, a data center and energy developer, for $4.75 billion, the tech giant said on Monday, as it pushes to build out its infrastructure for artificial intelligence. The all-cash deal is set to help Google bolster the supply of power to its data centers, the giant computing facilities that power A.I. Intersect, a privately held company that operates data centers and energy plants and is based in San Francisco, had already been working with Google to build the computing sites, and Google had invested in the company last December. “Intersect will help us expand capacity, operate more nimbly in building new power generation in lock step with new data center load and reimagine energy solutions to drive U.S. innovation and leadership,” Sundar Pichai, the chief executive of Google, said in a statement.

Full report : Alphabet agrees to acquire data center company Intersect for $4.75 billion in cash, plus its existing debt, as part of its push to expand its AI data center footprint.