TNB Tech Minute: Alphabet to Buy Intersect for AI Energy Plans

Summary

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WSJ Tech News Briefing: TNB Tech Minute – Alphabet to Buy Intersect for AI Energy Plans

Host: Julie Chang
Date: December 22, 2025

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Overview

This episode of the WSJ Tech Minute highlights the major business and technology stories of the day, focusing on Alphabet’s acquisition of Intersect to bolster AI’s renewable energy needs, Coinbase’s strategic push into prediction markets, and Apple’s recent regulatory fine in Italy. The brief rundown provides insight into how leading tech companies are adapting to new challenges across energy, finance, and data privacy.

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Key Discussion Points & Insights

1. Alphabet’s Acquisition of Intersect for AI Energy Demand

• Main Story:
  Alphabet, the parent company of Google, has agreed to acquire Intersect, a firm specializing in building renewable energy plants, for $4.75 billion.
• Purpose:
  The move is a direct response to the surging energy demands for AI, as Alphabet looks to power more data centers using clean energy.
• Deal Details:
  • Acquisition includes Intersect’s data center projects, multiple gigawatts of renewable energy assets, and the Intersect team itself.
  • Anticipated to close in the first half of next year.
• Industry Implication:
  This marks a significant investment in renewables to support the power-hungry needs of AI infrastructure.

Quote:

"Google parent Alphabet has agreed to acquire Intersect, which builds renewable energy plants, for $4.75 billion. The intended to help meet the energy demands of artificial intelligence."
— Julie Chang (00:20)

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2. Coinbase Expands into Prediction Markets

• New Acquisition:
  Coinbase acquires San Francisco-based startup The Clearing Company as part of pushing deeper into prediction markets.
• Recent Launch:
  • Last week, Coinbase introduced prediction markets, enabling users to bet on yes/no outcomes across diverse categories—from sports games to elections.
• Strategic Goal:
  • Coinbase is aiming to become more than a crypto platform, aspiring to transform into an “everything exchange,” with an array of financial products beyond cryptocurrencies.

Quote:

"Coinbase said it's expanding outside of crypto to become a everything exchange or a one stop shop that offers a wide array of financial services and products."
— Julie Chang (00:55)

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3. Apple’s Fine from Italian Competition Watchdog

• Fine Details:
  • Apple has been fined roughly $115 million in Italy.
  • The fine is over Apple’s App Tracking Transparency policy, which the regulator deems an abuse of market dominance.
• Regulatory Concern:
  • The regulator asserts Apple’s framework essentially forces app developers to “seek consent twice” to collect and use data for advertising, to the detriment of commercial partners.
• Apple’s Response:
  • Apple defends its policy as a way for users to easily control whether apps can track their online activity, and vows to keep supporting the system.

Quote:

"Apple has been fined roughly $115 million. In Italy, the country's competition watchdog says Apple abused its dominance in the digital economy through its app tracking transparency policy."
— Julie Chang (01:12)

Quote:

"Apple says its policy lets users easily decide whether apps can track their online activity and that it'll continue to defend the system."
— Julie Chang (01:28)

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Broader AI Discussion: McKinsey’s Perspective

• AI Transformation:
  Veren Marja of McKinsey shares how organizations need to holistically apply AI to workflows for real impact, using a Toyota partnership as an example.
  • Used real-time visibility across manufacturing to create an AI-powered digital supply chain.
  • Resulted in significant sales and profitability improvements.
• Key Insight:
  McKinsey emphasizes that impactful AI requires integration across all operations, not just isolated implementation.

Quote:

"We worked with Toyota and we build an AI powered demand sensing and digital supply chain and that required us to get real time visibility across all of their manufacturing plants and use that data and information to incorporate that into their planning processes. And that drove a significant improvement in driving sales and profitability up at the end of the day."
— Veren Marja, McKinsey (02:02)

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Notable Quotes & Memorable Moments

• On Alphabet’s Energy Plans:

  "The intended [is] to help meet the energy demands of artificial intelligence."
  — Julie Chang (00:23)

• On Coinbase’s Ambition:

  "Expanding outside of crypto to become a everything exchange or a one stop shop..."
  — Julie Chang (00:55)

• On Apple’s Regulatory Battles:

  "Apple abused its dominance in the digital economy through its app tracking transparency policy."
  — Julie Chang (01:14)

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Timestamps for Important Segments

• Alphabet/Intersect Deal – 00:16
• Coinbase’s Prediction Market Push – 00:49
• Apple’s Fine in Italy – 01:12
• McKinsey on AI Transformation – 01:59

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Summary

This episode succinctly captures three major trends: the race to secure renewable energy for AI growth (Alphabet/Intersect), the expansion of crypto platforms into broader financial services (Coinbase), and ongoing regulatory scrutiny shaping the tech landscape (Apple). The McKinsey commentary underscores the need for organizations to integrate AI deeply into their operations for true transformation.

Listeners are encouraged to catch the next episode for deeper analysis of these evolving tech developments.

Transcript

[A]

Countless organizations are investing in artificial intelligence, but most are not seeing value. Join McKinsey at the break to hear how forward thinking companies are bridging the gap between AI performance and impact.

[B]

Here's your afternoon TNB Tech minute for Monday, December 22nd. I'm Julie Chang for the Wall Street Journal. Google parent Alphabet has agreed to acquire Intersect, which builds renewable energy plants, for $4.75 billion. The intended to help meet the energy demands of artificial intelligence. Alphabet's purchase includes Intersex data center projects, multiple gigawatts of energy and the Intersect team. The acquisition is set to close in the first half of next year and another deal Coinbase is pushing deeper into the prediction market space by buying the San Francisco startup the clearing company. Just last week, Coinbase rolled out prediction markets to its users, which allows them to bet on yes or no questions regarding the outcomes of everything, ranging from sports aims to elections. Coinbase said it's expanding outside of crypto to become a everything exchange or a one stop shop that offers a wide array of financial services and products. And Apple has been fined roughly $115 million. In Italy, the country's competition watchdog says Apple abused its dominance in the digital economy through its app tracking transparency policy. The regulator claims Apple essentially forces app developers to seek consent twice to collect and use data for advertising harming Apple's commercial partners. Apple says its policy lets users easily decide whether apps can track their online activity and that it'll continue to defend the system. For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.

[A]

Delivering on AI's full potential requires a fundamental shift in approach. Here's Veren Marja of McKinsey again on what true transformation looks like.

[C]

You first have to identify the workflow. So for example, we worked with Toyota and we build an AI powered demand sensing and digital supply chain and that required us to get real time visibility across all of their manufacturing plants and use that data and information to incorporate that into their planning processes. And that drove a significant improvement in driving sales and profitability up at the end of the day. Today, McKinsey operates not just as a strategic advisory but also as a technology company. Our key message is AI needs to be applied holistically across operations to unlock value at scale.

[A]

Discover how McKinsey is redefining AI transformation at CES and driving innovation and impact across [e-mail] CES custom content from WSJ.

[B]

Is a unit of the Wall Street Journal Advertising Department. The Wall Street Journal News organization was not involved in the creation of.