AI Drives Global M&A to $4 Trillion in 2026; Mega-Deals Dominate Market Share

Global mergers and acquisitions (M&A) are projected to reach $4 trillion in 2026, marking the highest level since 2021, driven by surging artificial intelligence (AI) demand, according to a new PwC report. Mega-deals, valued over $5 billion, are set to comprise nearly half of this total, significantly reshaping the M&A landscape. PwC's report indicates mega-deals will account for 48% of the total M&A value in 2026, a sharp rise from 39% in 2025 and 26% in 2024, with their aggregate value projected to grow 40% year-over-year. Brian Levy, PwC US Global M&A Industry Leader, noted AI is "mega-fying" the M&A market, reallocating capital and reshaping industries. Recent examples include SpaceX (SPCX) acquiring Anysphere for $60 billion, Salesforce (CRM) purchasing AI customer service platform Fin for $3.6 billion, and Qualcomm (QCOM) reportedly negotiating to acquire AI chip startup Modular for approximately $4 billion.