Global mergers and acquisitions (M&A) have reached an impressive $2.6 trillion so far in 2025, marking a significant milestone in the corporate world. This surge, the highest since the pandemic-induced boom of 2021, is driven largely by a sharp increase in artificial intelligence (AI)-related transactions. Notable deals include Union Pacific’s proposed $85 billion acquisition of Norfolk Southern and a $40 billion funding round for OpenAI, led by SoftBank.
While the number of deals has fallen by 16% compared to the same period last year, the value of these transactions has surged by 28%. This shift highlights a growing trend where corporate boards are no longer waiting for market stability but are instead pursuing transformative acquisitions, particularly in the technology sector. AI, along with cybersecurity infrastructure, has emerged as a critical focus, as companies recognise the necessity of bolstering their capabilities in the face of accelerating technological advancements.
Private equity firms have also re-entered the M&A arena, contributing to major transactions, including Sycamore Partners’ $10 billion acquisition of Walgreens Boots Alliance. Despite lingering geopolitical uncertainties, the renewed corporate confidence and a more stable economic environment have fueled this resurgence in deal-making.
The U.S. continues to dominate the M&A market, accounting for over half of the global activity. However, Asia-Pacific has witnessed the fastest growth in deal-making, surpassing Europe, the Middle East, and Africa (EMEA) in terms of transaction value this year.
As AI-driven growth strategies continue to shape the future, the M&A landscape is expected to remain strong, with major deals playing a pivotal role in shaping the next chapter of the global economy.
