Alphabet to buy Intersect Power to bypass energy grid bottlenecks (techcrunch.com)

Google's parent company, Alphabet, has announced its acquisition of Intersect Power for $4.75 billion in cash, alongside the assumption of its debts. This deal, aimed at boosting Alphabet's power generation capacity for new data centers, is significant as it alleviates reliance on local utilities that are unable to meet the surging energy demands driven by AI operations. The integration of clean energy resources with data center expansions is crucial for training AI models, which require substantial and reliable power supplies. Previously holding a minority stake, Alphabet's acquisition will incorporate Intersect Power's future development projects, including new data parks located near renewable energy sources such as wind and solar. These parks are expected to be operational by late next year, with full completion anticipated by 2027. While Google will primarily utilize these facilities, they are designed to accommodate AI chips from other companies as well, further advancing collaboration within the AI/ML community. The transaction is expected to finalize in the first half of next year, positioning Alphabet strategically within the clean energy and AI landscape.