Alphabet Inc. (GOOGL) Acquires Intersection of $4.75 Billion, Here's What You Need to Know

Alphabet Inc. (NASDAQ:GOOGL) is among the Best Performing Quantum Computing Stocks in 2025. On December 22, announced the acquisition of Intersect for $4.75 billion in cash. Intersect provides data center and energy infrastructure solutions. Alphabet Inc. (NASDAQ:GOOGL) already owns a minority stake in the company due to a previous funding round.

Management noted that this strategic acquisition will allow more generation capacity for data centers to come online faster. Moreover, the transaction also includes the team of Intersect and multiple gigawatts of energy and data center projects in development. Management also highlighted that the company will operate separately from Alphabet Inc. (NASDAQ:GOOGL) under the Intersect brand and will be led by Sheldon Kimber. That said, the existing operating assets of Intersect in Texas and its operating and in-development assets in California are not part of this deal.

In other news, Wall Street is bullish on Alphabet Inc. (NASDAQ:GOOGL). Recently, on December 22, Ronald Josey from Citi reiterated a Buy rating on the stock and raised the price target from $343 to $350. Earlier on December 19, Scott Devitt from Wedbush also reiterated a Buy rating on the stock and raised the price target from $320 to $350.

​​​Alphabet Inc. (NASDAQ:GOOGL) is a holding company with major segments including Google Services, Google Cloud, and Other Bets.

While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.