BUZZ-First Solar climbs after Alphabet's $4.75 billion deal to buy Intersect

+1.48% Post

-5.34% Post

Alphabet Inc. Class A

GOOGL

314.35

315.00

+1.48%

+0.21% Post

First Solar, Inc.

FSLR

269.39

269.42

-5.34%

+0.01% Post

** Shares of First Solar FSLR.O spike after Alphabet says it would buy data center firm Intersect in $4.75 billion deal

** Stock last up 4.9% at $280

** In 2022, FSLR entered an agreement to supply 2.4 gigawatts (GW) DC of its high-performance, advanced thin film photovoltaic (PV) solar modules to Intersect from 2024 to 2026

** The modules would be deployed in Intersect Power's solar, storage, and green hydrogen projects coming online across the United States in 2025 through 2027

** Under the deal announced on Monday, Alphabet to acquire Intersect's multiple gigawatts of energy and data center projects in development or under construction as it ramps up AI infrastructure build out

** FSLR up 59% YTD versus 54% gain in Invesco solar ETF TAN.P

(Reporting by Medha Singh)

((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; X, formerly Twitter: @medhasinghs;))

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