Google’s parent company, Alphabet, has agreed to acquire Intersect, an energy and infrastructure company that supports data center development, in a deal valued at $4.75 billion in cash, plus debt assumption.
The acquisition includes assets tied to two data centers in the Texas Panhandle, one operating facility in Gray County near Pampa, and another planned site in Roberts County near Miami.
Expanding Data Center and Energy Capacity
Alphabet stated the deal will accelerate data center capacity and energy infrastructure buildout, enabling faster power generation deployment to meet growing AI and cloud computing demand.
“Intersect will help us expand capacity and reimagine energy solutions to drive U.S. innovation and leadership,” said Sundar Pichai, CEO of Google and Alphabet.
The transaction builds on Google’s existing relationship with Intersect, in which it previously held a minority stake.
Focus on Integrated Energy Solutions
Intersect specializes in co-located data center and power infrastructure, enabling energy generation to scale with computing demand. The companies are collaborating on a project in Haskell County, Texas, integrating data center operations with on-site energy production.
The acquisition includes Intersect’s development pipeline and projects under construction, multiple gigawatts of energy capacity, and its team, which will continue operating under the Intersect brand.
- Intersect’s development pipeline and projects under construction
- Multiple gigawatts of energy capacity
- Its team, which will continue operating under the Intersect brand
Supporting AI and Energy Innovation
Alphabet said the deal aligns with its strategy to support AI infrastructure growth and invest in reliable, sustainable energy solutions.
The company highlighted ongoing efforts in advanced geothermal energy, long-duration energy storage, carbon capture technologies, and AI-driven grid optimization.
- Advanced geothermal energy
- Long-duration energy storage
- Carbon capture technologies
- AI-driven grid optimization
Some of Intersect’s assets in Texas and California will remain outside the acquisition and continue operating independently with current investors.
The deal is expected to close in the first half of 2026, pending customary conditions.
Source: Maci Weathers, MyHighPlains (KAMR/KCIT)
https://www.myhighplains.com/news/local-news/google-buys-energy-company-behind-two-texas-panhandle-data-centers/