AI Boom Helps Fuel $2.6 Trillion Dealmaking Rebound

Enthusiasm for AI has reportedly helped drive $2.6 trillion in dealmaking this year.

That’s according to a report Monday (Aug. 4) by Reuters, which says this figure is the highest for the first seven months of the year since 2021, during the peak of the pandemic.

It’s a trend driven by a drive for corporate growth and an upswing in artificial intelligence (AI) activity, helping offset tariff-related uncertainty.

While the number of deals for the first seven months of the year is 16% lower than the same period in 2024, their value is 28%, Reuters added, citing Dealogic data.

Among this year’s more high-profile deals include Union Pacific railroad’s proposed $85 billion acquisition of rival Norfolk Southern and OpenAI’s $40 billion funding round.

The report notes that this upswing will come as a relief to bankers who came into 2025 thinking that the Trump administration would usher in a wave of dealmaking. But the current White House trade policy, coupled with geopolitical uncertainty, have caused companies to pause.

“What you’re seeing in terms of deal rationale for transactions right now is that it’s heavily growth-motivated, and it’s increasing,” Andre Veissid, EY Global Financial Services strategy and transactions leader, told Reuters.

“Whether it’s artificial intelligence, the change in the regulatory environment, we see our clients not wanting to be left behind in that race and that’s driving activity.”

This year’s total is still 27% lower than the $3.57 trillion in deals recorded during the first seven months of 2021, the report adds. However, Reuters continued, dealmakers at JPMorgan Chase expect further deals to come with companies pursuing bigger targets in the second as they adapt to volatility.

And companies are learning to adapt, as forthcoming research from the PYMNTS Intelligence 2025 Certainty Project has shown, with perceived uncertainty falling to its lowest point in nearly a year among services companies surveyed.

“Executives, it seems, are treating the current environment like spinach. It’s not what they want, but they’re eating it, because they finally know what’s on the plate,” PYMNTS wrote last week.

“And what’s on the plate is more heapings of uncertainty requiring operational agility across key areas like supply chain management, procurement and product.”

Research has shown that 57% of product leaders have adjusted their product lines in response to tariffs, while more than half of firms have switched to domestically sourced materials. A growing number of firms are deploying AI, with 52% of companies saying they’ve accelerated AI adoption as part of their mitigation strategy.

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