Alphabet Inc., the parent company of Google, announced on Monday that it has agreed to acquire data center and energy infrastructure provider Intersect for $4.75 billion in cash, in addition to assuming certain debt. The move comes as major tech companies increase investments to expand computing and energy capacity critical for artificial intelligence development.

The acquisition will give Alphabet control over Intersect’s multiple gigawatts of energy and data center projects that are either in development or under construction. The company said Intersect will continue exploring emerging technologies to diversify and increase energy supply, further supporting Google’s U.S. data center operations.

Despite the acquisition, Intersect will continue operating under its own brand. Its existing assets in Texas, as well as operating and in-development assets in California, will not be included in the deal. Alphabet said Intersect’s operations will remain separate from Google’s core business, allowing the company to maintain its current management and development strategy.

The acquisition underscores Alphabet’s strategy to secure reliable energy sources and expand its computing infrastructure, both of which are essential for meeting growing demand for AI-driven services.