Overview
- Alphabet will pay $4.75 billion in cash and assume Intersect’s debt, with closing targeted for the first half of 2026 subject to customary approvals.
- Intersect will operate under its own brand led by CEO Sheldon Kimber while working closely with Google’s technical infrastructure team.
- The deal brings Intersect’s team and multiple gigawatts of projects in development or under construction, including a co‑located data center and power site in Haskell County, Texas.
- Existing operating assets in Texas and operating or in‑development assets in California are excluded and will continue independently with current investors.
- Intersect reports about $15 billion in assets and projects totaling roughly 10.8 gigawatts online or in development by 2028, reflecting the scale Alphabet plans to leverage for AI growth.