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1.	Alphabet to Buy Data Center Developer Intersect for $4.75 Billion By Valida Pau Source: The Information

Alphabet said Monday that it agreed to buy clean energy developer Intersect Power for $4.75 billion in cash plus existing debt, as the Google parent looks for more ways to power AI.

Alphabet already took a minority stake in Intersect last December when the data center operator announced a funding round with Google and said they aim to provide $20 billion in data center capacity investment by the end of the decade.

Data center-related mergers and acquisitions are soaring this year. Data center developer Rowan Digital Infrastructure is weighing a sale, The Information reported. In October, an investor consortium including BlackRock and Abu Dhabi’s MGX agreed to buy one of the largest data center operators in the U.S. at a $40 billion valuation, including debt.

2.	Coinbase to Buy Prediction Market Startup The Clearing Co. By Yueqi Yang Source: The Information

Coinbase said it is buying The Clearing Company, a less than one-year old prediction market startup, bringing a team of specialized talent to the prediction business it launched last week. Terms of the deal were not disclosed.

The Clearing Company, founded in March and based in San Francisco, was created to take on Polymarket and Kalshi, the two dominant platforms. Its founder Toni Gemayel worked as head of growth at both Polymarket and Kalshi. It raised $15 million in August from investors including Union Square Ventures, Haun Ventures and Coinbase Ventures.

The race to launch prediction markets is heating up, with DraftKings and FanDuel entering the market this month. The industry could face more consolidation. The Clearing Co. has applied for a clearinghouse license with the Commodity Futures Trading Commission. If approved, the acquisition will bring a valuable license to Coinbase, which is currently using Kalshi as a vendor.

3.	Palmer Luckey-Backed Erebor Bank Raises at Over $4 Billion Valuation By Yueqi Yang Source: Axios

Erebor, the new crypto-friendly bank backed by Anduril’s founder Palmer Luckey, has raised $350 million at a $4.35 billion valuation led by Lux Capital, Axios reported.

Erebor, also backed by Peter Thiel’s Founders Fund, is set to join a small but growing number of banks, such as Lead Bank and Cross River Bank, that are willing to provide banking services for crypto firms. It plans to launch as soon as late January, The Information reported.

The valuation is double what it fetched in its prior round in the summer, and came after Erebor won conditional approval for a federal bank charter in October. This month, it received approval for deposit insurance coverage from the Federal Deposit Insurance Corp. Erebor declined to comment on the fundraising report.

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