MOUNTAIN VIEW, Calif., and SAN FRANCISCO, Calif. - December 22, 2025 - Alphabet today announced a definitive agreement to acquire Intersect, which provides data center and energy infrastructure solutions, for $4.75 billion in cash, plus the assumption of debt. Google already owns a minority stake in Intersect from a previously announced funding round.
The acquisition will enable more data center and generation capacity to come online, faster, while accelerating energy development and innovation.
Included in the transaction are Intersect’s world-class team and multiple gigawatts of energy and data center projects in development, or under construction, from its successful existing partnership with Google. Intersect will also explore a range of emerging technologies to increase and diversify energy supply, while supporting Google’s U.S. data center investments to meet its Cloud customers’ and users’ demand.
Intersect’s operations will remain separate from Alphabet and Google under the Intersect brand and will be led by Sheldon Kimber. It will partner closely with Google’s technical infrastructure team, continuing work on in-development, and new, joint projects; this includes the companies’ first announced co-located data center and power site, under construction in Haskell County, Texas.
Intersect’s existing operating assets in Texas, and its operating and in-development assets in California, will not be part of the acquisition. Those assets continue to operate as an independent company, supported by existing investors TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. Intersect expects a seamless transition and service continuity for customers of those assets.
“Intersect will help us expand capacity, operate more nimbly in building new power generation in lockstep with new data center load, and reimagine energy solutions to drive US innovation and leadership. We look forward to welcoming Sheldon and the Intersect team,” said Sundar Pichai, CEO of Google and Alphabet.
“Intersect has always been focused on bringing innovation to the industry and we look forward to accelerating at scale as part of Google,” said Sheldon Kimber, founder and CEO, Intersect. “Modern infrastructure is the linchpin of American competitiveness in AI. We share Google’s conviction that energy innovation and community investment are the pillars of what must come next.”
Advancing U.S. energy innovation and capacity
The acquisition will augment Alphabet and Google’s ongoing commitment to partnering with utilities and energy developers across the sector to unlock abundant, reliable, affordable energy supply that enables the buildout of data center infrastructure without passing on costs to grid customers.
Alphabet is committed to creating new pathways and partnerships to responsibly increase energy supply, while advancing the rapid commercialization of advanced energy technologies — including advanced geothermal, long duration energy storage and gas with carbon capture and storage.
Additionally, Alphabet is deploying AI to accelerate the grid connection of new power plants and helping scale energy efficiency and affordability programs in data center communities.
The deal is subject to customary closing conditions and anticipated to close in the first half of 2026.
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About Alphabet Inc.
Alphabet is a collection of companies, the largest of which is Google. Larry Page and Sergey Brin founded Google in September 1998 and the company is headquartered in Mountain View, Calif. Billions of people use its wide range of popular products and platforms each day, like Search, Ads, Chrome, Cloud, YouTube and Android.
About Intersect
Intersect delivers next generation infrastructure for data centers and other energy-intensive industries by co-locating industrial demand with dedicated gas and renewable power generation. Our approach delivers the fastest, cheapest, cleanest and most reliable energy and infrastructure solutions for our customers and the inevitable scale of what comes next. We have $15 billion of assets in operation or under construction across the U.S. states. Learn more: Intersect.com
Forward-Looking Statements
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause Alphabet Inc.'s (the “company”, “we”, “us” or “our”) actual results to differ materially from those reflected in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the risk that the closing conditions for the acquisition will not be satisfied, including the risk that the requisite regulatory approvals will not be obtained; the risk that the definitive agreement relating to the acquisition will be terminated prior to closing; the possibility that the acquisition will not be completed in the expected timeframe or at all; potential adverse effects to the businesses of the company or Intersect during the pendency of the acquisition; our ability to successfully integrate Intersect or other businesses that we may acquire in the future; our ability to achieve the benefits that we expect to realize as a result of the acquisition of Intersect; the potential negative impact on our financial condition and results of operations if we fail to achieve the benefits that we expect to realize as a result of the acquisition of Intersect or if these benefits take longer to achieve than expected; and other risks and uncertainties discussed in the reports the company has filed previously with the SEC, such as its Annual Report on Form 10-K. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, which speak as of the respective date of this release, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.