Global M&A Report

Global M&A hits $1.3 trillion in Q2 2026 as megadeals mask a cooling market

The Q2 2026 Global M&A Report provides an overview of key factors shaping global mergers and acquisitions, breaking down the industry by region and vertical.

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Q2 2026 FIRST LOOK DASHBOARDS

Our exclusive data shows a PE dealmaking slowdown in the US and Asia-Pacific, as heightened volatility dampened the industry’s mood in Q2. For VC, global data shows strain as broad liquidity remains a challenge. See all the details in our newly released Global VC First Look Dashboard and Global PE First Look Dashboard. PitchBook clients can access the complete, extensive data packs via the Research Center in the PitchBook Platform.

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LATE-STAGE COMPANY RESEARCH

The First Public Price for Frontier AI

SpaceX’s latest valuation sets a market benchmark for frontier AI. We derive what it implies for the two pure-play AI labs now in IPO registration and map the key catalysts.

SpaceX Update: What the IPO Reveals and What to Watch For Next

This analyst note concludes the SpaceX private-company series by evaluating the post-IPO valuation, introducing a management credibility ledger, and outlining key catalysts for the stock’s first 18 months.

Global Unicorn Tracker

The Q1 2026 Global Unicorn Tracker provides a comprehensive analysis of VC-backed companies valued at $1 billion or more, covering deal activity, valuations, exits, and the PitchBook Business Quality framework and offering perspective on the biggest trends shaping the unicorn landscape.
TRENDSPOTTING

AI and ML’s deal value and deal count shares of global VC activity tracked closely through 2022. Since 2023, they’ve diverged sharply; by 2026, AI accounts for 76.7% of all VC dollars, but just 35.9% of deals, as capital concentrates into a shrinking number of mega-rounds like Anthropic’s $46.2B raise.

See more: Q2 2026 Global VC First Look

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