Global mergers and acquisitions reached a record 3.16 trillion dollars in the first half of 2026, the strongest opening six months on record, according to data released by Mergermarket. The total represented a 44 percent jump on the same period a year earlier, underscoring a resurgence in corporate dealmaking despite persistent geopolitical and trade tensions.
The surge was driven in large part by the return of very large transactions. The first half featured 48 so-called megadeals, each valued above 10 billion dollars, together worth 1.32 trillion dollars, more than double the number recorded in the same stretch of 2025. Among them were six giga-deals exceeding 50 billion dollars, a category that had been largely dormant in recent years.
Several headline transactions defined the period. SpaceX agreed to acquire the artificial intelligence coding start-up Cursor for around 60 billion dollars, in a deal that highlighted the premium being placed on advanced AI capabilities. In media, Paramount Skydance moved to buy Warner Bros Discovery for about 110 billion dollars, a combination that would reshape the entertainment landscape if it clears regulatory review.
The United States dominated activity, accounting for 1.69 trillion dollars, a 72 percent annual increase and more than half of the global total. Europe also recorded sharp gains, with the United Kingdom climbing to about 255 billion dollars, Italy to 97 billion and France to 70 billion, while the German-speaking DACH region reached 158 billion. Asia moved in the opposite direction, as China fell 46 percent to 155 billion dollars and Japan declined 41 percent to 85 billion.
Analysts attributed the rebound to unusually strong corporate balance sheets, which have reduced sensitivity to higher interest rates, and to a wave of strategic buying tied to accelerating adoption of artificial intelligence. Company boards increasingly view large acquisitions as catalysts for transformation, pressing ahead with ambitious deals even amid external tensions and trade frictions that might once have deterred them.
Whether the pace can be sustained through the second half remains an open question. Escalating conflict in the Middle East, uncertainty over the direction of interest rates and the prospect of tougher antitrust scrutiny could all temper appetite, yet advisers report a healthy pipeline of pending transactions. For now, the figures point to a dealmaking environment operating at a level not seen since before the pandemic, with technology and media at its core.
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