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Market research · November 1, 2026
AI Industry Acquisitions & Deal Market: November 2026
By Darin ten Bruggencate, Founder, AI Industry Reviews
Our analysts reviewed 84 AI company deals announced from January 1, 2023 through October 31, 2026, drawn from company announcements, SEC filings, regulator records, and news reports. For each deal we recorded the buyer, the target, the structure, the price where one was disclosed or reported, and the status as of Q4 2026.
Key Findings
- Buyers announced 40 AI company deals from January 1 through October 31, 2026, 10 more than the 30 announced in all of 2025.
- October 2026 brought 7 deals, the most of any month in the study, and none of them carried a disclosed or reported price.
- Known deal value for 2026 through October reached $105.7 billion excluding SpaceX and xAI, about twice the $53.0 billion recorded for all of 2025.
- OpenAI leads all buyers with 14 AI company deals since 2023, 7 of them in 2026.
- Three of October's 7 deals were hire-based, the first such deals since January 2026.
The largest technology companies, chipmakers, and AI labs have spent three years buying AI startups. Some buy the whole company. Others hire away a startup's team, or pay to license its technology while hiring its founders, a structure that has drawn questions from antitrust officials. Each deal shifts who controls AI talent and technology, and most buyers never say what they paid. That gap makes a running count of the deals useful to founders, investors, and anyone pricing an AI company.
Our analysts tracked every AI company deal announced by 14 large buyers, at any size, and every AI company deal valued at $1 billion or more by any other buyer. This edition adds the deals announced from October 8 through October 31, 2026 to our October 2026 edition, which covered deals through October 7.
In the following sections, we track deal counts and values over time, profile the largest deals and the most active buyers, list the deals announced in October, and follow regulatory reviews and pending deals.
AI Deal Count and Value by Quarter
Counting deals quarter by quarter shows how fast large companies are buying AI startups and which deal structures they use. The last quarter covers October 1 to October 31, 2026.
AI deals by quarter, 2023 to 2026
| Quarter | Deals | Acquisitions | Hire-based deals | Deals with known value | Known value | Known value excluding SpaceX / xAI |
|---|---|---|---|---|---|---|
| 2023 Q1 | 0 | 0 | 0 | 0 | $0.0B | $0.0B |
| 2023 Q2 | 1 | 1 | 0 | 1 | $1.3B | $1.3B |
| 2023 Q3 | 2 | 2 | 0 | 0 | $0.0B | $0.0B |
| 2023 Q4 | 1 | 1 | 0 | 0 | $0.0B | $0.0B |
| 2024 Q1 | 1 | 0 | 1 | 1 | $0.7B | $0.7B |
| 2024 Q2 | 3 | 2 | 1 | 2 | $6.0B | $6.0B |
| 2024 Q3 | 5 | 3 | 2 | 5 | $8.7B | $8.7B |
| 2024 Q4 | 1 | 1 | 0 | 0 | $0.0B | $0.0B |
| 2025 Q1 | 4 | 4 | 0 | 2 | $4.5B | $4.5B |
| 2025 Q2 | 9 | 5 | 4 | 2 | $20.8B | $20.8B |
| 2025 Q3 | 9 | 6 | 3 | 4 | $5.4B | $5.4B |
| 2025 Q4 | 8 | 6 | 2 | 3 | $22.2B | $22.2B |
| 2026 Q1 | 11 | 9 | 2 | 4 | $251.8B | $1.8B |
| 2026 Q2 | 12 | 12 | 0 | 5 | $71.0B | $71.0B |
| 2026 Q3 | 10 | 10 | 0 | 7 | $32.9B | $32.9B |
| 2026 Q4 (to Oct. 31) | 7 | 4 | 3 | 0 | $0.0B | $0.0B |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- The second quarter of 2026 had 12 deals, the most of any quarter in the study. The first and third quarters of 2026 followed with 11 and 10.
- October 2026 alone brought 7 deals, more than any full quarter before the second quarter of 2025. Four were acquisitions and three were hire-based deals.
- With 40 deals through October 31, 2026 has passed the 2025 full-year count of 30 by 10. Buyers have announced deals in every month of the year, so founders weighing a sale face an active market.
AI Deal Count and Value by Year
Annual totals show how the market has grown since 2023 and how much of the spending is public. Value figures are shown with and without SpaceX's merger with xAI, which is larger than all other deals combined.
AI deals by year
| Year | Deals | Deals without a price | Deals with known value | Known value | Known value excluding SpaceX / xAI | Median value |
|---|---|---|---|---|---|---|
| 2023 | 4 | 3 | 1 | $1.3B | $1.3B | $1.3B |
| 2024 | 10 | 2 | 8 | $15.4B | $15.4B | $682M |
| 2025 | 30 | 19 | 11 | $53.0B | $53.0B | $2.4B |
| 2026 (to Oct. 31) | 40 | 24 | 16 | $355.7B | $105.7B | $2.38B |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- Known value for 2026 through October is $105.7 billion without SpaceX and xAI, about twice the $53.0 billion for all of 2025.
- The median priced deal in 2026 is $2.38 billion. Deals by buyers outside the tracked group enter the study only at $1 billion or more, which lifts the median.
- Of the 69 deals by tracked buyers, 48 carry no price. Sellers and their investors have few public benchmarks to work from when they negotiate.
AI Deals by Month in 2026
Monthly figures show how a few very large deals drive the value totals while deal counts stay more even.
AI deals by month in 2026
| Month | Deals | Deals with known value | Known value | Known value excluding SpaceX / xAI |
|---|---|---|---|---|
| Jan. 2026 | 5 | 2 | $1.7B | $1.7B |
| Feb. 2026 | 4 | 2 | $250.1B | $0.1B |
| Mar. 2026 | 2 | 0 | $0.0B | $0.0B |
| Apr. 2026 | 4 | 1 | $0.4B | $0.4B |
| May 2026 | 3 | 0 | $0.0B | $0.0B |
| June 2026 | 5 | 4 | $70.6B | $70.6B |
| July 2026 | 2 | 2 | $2.6B | $2.6B |
| Aug. 2026 | 3 | 1 | $7.5B | $7.5B |
| Sept. 2026 | 5 | 4 | $22.8B | $22.8B |
| Oct. 2026 | 7 | 0 | $0.0B | $0.0B |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- October had 7 deals, the most of any month in 2026, and none with a known price.
- June 2026 had $70.6 billion in known value, led by SpaceX's $60 billion purchase of Cursor.
- Monthly value swings with one or two very large deals. A month with many deals can add nothing to value totals when terms stay private, as October shows.
Largest AI Deals
The biggest priced deals set the public benchmarks for what AI companies are worth to a buyer. The table lists every deal in the study with a known value of at least $2.85 billion.
Largest AI deals by disclosed or reported value
| Announced | Buyer | Target | Deal type | Value | Value basis | Status |
|---|---|---|---|---|---|---|
| Feb. 2, 2026 | SpaceX | xAI (including X) | Acquisition | $250B | Reported | Completed |
| June 16, 2026 | SpaceX | Cursor (Anysphere) | Acquisition | $60B | Disclosed | Completed |
| Dec. 24, 2025 | Nvidia | Groq | License-and-hire | $17B | Disclosed | Completed |
| June 12, 2025 | Meta | Scale AI | Stake-and-hire | $14.3B | Reported | Completed |
| Sept. 2, 2026 | Nvidia | Hugging Face | Acquisition | $12.93B | Disclosed | Pending |
| Sept. 28, 2026 | AMD | World Labs | Acquisition | $8.2B | Disclosed | Pending |
| Aug. 19, 2026 | Stripe | OpenRouter | Acquisition | $7.5B | Reported | Pending |
| May 21, 2025 | OpenAI | io Products | Acquisition | $6.5B | Reported | Completed |
| Apr. 26, 2024 | Thoma Bravo | Darktrace | Acquisition | $5.3B | Disclosed | Completed |
| Aug. 19, 2024 | AMD | ZT Systems | Acquisition | $4.9B | Disclosed | Completed |
| June 24, 2026 | Qualcomm | Modular | Acquisition | $3.9B | Reported | Completed |
| June 15, 2026 | Salesforce | Fin | Acquisition | $3.6B | Disclosed | Completed |
| Dec. 2, 2025 | Marvell | Celestial AI | Acquisition | $3.25B | Disclosed | Completed |
| June 30, 2026 | Schneider Electric | Cognite | Acquisition | $3.1B | Disclosed | Pending |
| Mar. 10, 2025 | ServiceNow | Moveworks | Acquisition | $2.85B | Disclosed | Completed |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- Five deals were valued at $10 billion or more: SpaceX and xAI, SpaceX and Cursor, Nvidia and Groq, Meta and Scale AI, and Nvidia and Hugging Face.
- Nvidia's annual report puts its Groq deal at $13.0 billion paid at closing plus $4 billion due within a year. The deal was reported at about $20 billion when it was announced in December 2025.
- The ranking did not change in October, because no new deal carried a price. These 15 deals remain the public reference points for large AI prices.
How AI Deals Are Structured
Buyers can purchase a company outright or bring over its people through a hiring and licensing arrangement. The structure decides whether the startup survives and how regulators can review the deal.
AI deals by deal type
| Deal type | Deals | Deals with known value | Known value | Median value | Largest |
|---|---|---|---|---|---|
| Acquisition | 66 | 29 | $387.1B | $1.7B | SpaceX / xAI (including X) ($250B) |
| Acqui-hire | 8 | 0 | $0.0B | n/a | n/a |
| License-and-hire | 9 | 6 | $24.1B | $1.65B | Nvidia / Groq ($17B) |
| Stake-and-hire | 1 | 1 | $14.3B | $14.3B | Meta / Scale AI ($14.3B) |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- Of the 84 deals, 66 were acquisitions. The other 18 were hire-based deals with $38.4 billion in known value, most of it from Nvidia's Groq deal and Meta's Scale AI stake.
- None of the eight acqui-hires carried a price, and six of them were by AI labs. Apple's October deal for Huxe, which pairs job offers with a non-exclusive license to its technology, brought the license-and-hire count to nine.
- From February through early October 2026, all 29 deals were acquisitions. October brought three hire-based deals, so the structure cited in senators' February 2026 letter to the FTC and DOJ remains in use.
AI Deals by Buyer Type
Grouping buyers by type shows which parts of the industry are spending on AI companies.
AI deals by buyer type
| Buyer type | Deals | Number of buyers | Deals with known value | Known value | Buyers |
|---|---|---|---|---|---|
| Big tech | 26 | 5 | 8 | $24.1B | Meta, Amazon, Google, Microsoft, Apple |
| AI labs | 25 | 5 | 4 | $7.3B | OpenAI, Anthropic, Cohere, Mistral AI, xAI |
| Chipmakers | 20 | 5 | 11 | $53.9B | AMD, Nvidia, Qualcomm, Analog Devices, Marvell |
| Enterprise software | 6 | 5 | 6 | $10.8B | Workday, Cyera, Databricks, Salesforce, ServiceNow |
| Other companies | 4 | 3 | 4 | $320.6B | SpaceX, Schneider Electric, Stripe |
| AI cloud providers | 2 | 2 | 2 | $3.4B | CoreWeave, Nscale |
| Private equity | 1 | 1 | 1 | $5.3B | Thoma Bravo |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- Big tech companies announced 26 deals and AI labs 25. Chipmakers followed with 20.
- In 2026, AI labs announced 15 deals, compared with 12 by big tech companies and 6 by chipmakers.
- AI labs are the busiest buyers of 2026, which widens the field of possible buyers for startups that sell applications and tools. Thoma Bravo's $5.3 billion purchase of Darktrace in 2024 is still the only private equity deal in the study.
Most Active Buyers of AI Companies
A small group of companies accounts for most of the deals. The table lists every buyer with three or more deals in the study.
Most active AI buyers (three or more deals)
| Buyer | Buyer type | Deals | Deals in 2026 | Deals with known value | Known value | Largest deal with known value |
|---|---|---|---|---|---|---|
| OpenAI | AI labs | 14 | 7 | 3 | $6.9B | io Products ($6.5B) |
| Meta | Big tech | 10 | 4 | 2 | $16.3B | Scale AI ($14.3B) |
| AMD | Chipmakers | 9 | 2 | 3 | $13.8B | World Labs ($8.2B) |
| Nvidia | Chipmakers | 6 | 2 | 5 | $31.6B | Groq ($17B) |
| Amazon | Big tech | 5 | 1 | 2 | $0.5B | Covariant ($400M) |
| Apple | Big tech | 4 | 4 | 1 | $1.6B | Q.ai ($1.6B) |
| Anthropic | AI labs | 4 | 3 | 1 | $0.4B | Coefficient Bio ($400M) |
| Cohere | AI labs | 4 | 3 | 0 | $0.0B | None with known value |
| Big tech | 4 | 1 | 2 | $5.1B | Character.AI ($2.7B) | |
| Microsoft | Big tech | 3 | 2 | 1 | $0.7B | Inflection AI ($650M) |
| Qualcomm | Chipmakers | 3 | 1 | 1 | $3.9B | Modular ($3.9B) |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- OpenAI announced 14 deals, more than any other buyer, including 7 in 2026. October added Orchestra Bio, which makes AI agents for biotech operations.
- Apple joined the list in October with three deals in one month: Huxe, Samplab, and Ascend.io. All four of its deals in the study date from 2026.
- Nvidia has spent $31.6 billion across 5 priced deals, while OpenAI's 14 deals carry only 3 known prices. Chip and infrastructure buyers set most of the public price benchmarks, and application-focused buyers mostly keep terms private.
What Buyers Are Paying For
Sorting targets by what they make shows where buyers see the most value in AI.
AI deals by target category
| Target category | Deals | Deals with known value | Known value | Known value excluding SpaceX / xAI | Median value | Largest |
|---|---|---|---|---|---|---|
| Applications and agents | 28 | 8 | $14.2B | $14.2B | $1.55B | Salesforce / Fin ($3.6B) |
| AI infrastructure and chips | 18 | 10 | $41.2B | $41.2B | $2.45B | Nvidia / Groq ($17B) |
| Model labs | 14 | 6 | $263.5B | $13.5B | $2B | SpaceX / xAI (including X) ($250B) |
| Developer tools and coding | 10 | 4 | $77.0B | $77.0B | $7.67B | SpaceX / Cursor (Anysphere) ($60B) |
| Devices and robotics | 7 | 4 | $8.8B | $8.8B | $1B | OpenAI / io Products ($6.5B) |
| AI security | 5 | 2 | $6.3B | $6.3B | $3.15B | Thoma Bravo / Darktrace ($5.3B) |
| Data and labeling | 2 | 2 | $14.4B | $14.4B | $7.19B | Meta / Scale AI ($14.3B) |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- Applications and agents drew 28 deals, the most of any category, with 17 of them in 2026. Four of October's 7 deals fell in this category.
- Developer tools and coding companies drew $77.0 billion in known value, the most of any category once SpaceX and xAI are set aside. Cursor and Hugging Face account for most of it.
- AI security rose from 3 deals to 5 in October, with Anthropic's Opaque Systems deal and Cohere's planned purchase of AISLE. AI labs are now buying security technology for their own models and customers.
AI Deals Announced in October 2026
The month added seven deals to the study. The table lists each one with what the target does.
AI deals announced from October 1 to October 31, 2026
| Announced | Buyer | Target | What the target does | Deal type | Category | Value |
|---|---|---|---|---|---|---|
| Oct. 9, 2026 | Apple | Huxe | Personalized AI audio app | License-and-hire | Applications and agents | Undisclosed |
| Oct. 13, 2026 | Anthropic | Opaque Systems | Confidential computing for AI workloads | Acqui-hire | AI security | Undisclosed |
| Oct. 15, 2026 | Cohere | AISLE | AI cybersecurity | Acquisition (pending) | AI security | Undisclosed |
| Oct. 19, 2026 | Apple | Samplab | AI music production tools | Acquisition | Applications and agents | Undisclosed |
| Oct. 20, 2026 | OpenAI | Orchestra Bio | AI agents for biotech operations | Acquisition | Applications and agents | Undisclosed |
| Oct. 23, 2026 | Meta | Sundial | AI data analytics platform | Acquisition | Applications and agents | Undisclosed |
| Oct. 30, 2026 | Apple | Ascend.io | AI data engineering | Acqui-hire | Developer tools and coding | Undisclosed |
Source: AI Industry Reviews analysis (Source 1); deal announcements and reports in Sources 2 to 11.
Key Findings
- Apple accounted for three of the month's 7 deals. All three first became public through the European Union's Digital Markets Act transparency listings.
- Two deals ended a startup's product. Opaque Systems and Ascend.io both said they are winding down as their teams join the buyer.
- None of October's deals carried a price. Buyers paid for teams and products in applications, security, and data tools and kept the terms private.
Regulatory Reviews of AI Deals
Antitrust agencies have looked at a small share of AI deals, mostly the hire-based ones. The table lists every deal in the study that drew a review, an inquiry, or a formal complaint.
AI deals with a regulatory review or inquiry
| Announced | Buyer | Target | Deal type | Review or inquiry and outcome |
|---|---|---|---|---|
| Mar. 19, 2024 | Microsoft | Inflection AI | License-and-hire | UK CMA found a relevant merger situation and cleared it at Phase 1 (Sept. 4, 2024); EU Article 22 referral requests withdrawn (Sept. 18, 2024) |
| Apr. 24, 2024 | Nvidia | Run:ai | Acquisition | European Commission review after an Italian Article 22 referral; cleared without conditions (Dec. 20, 2024) |
| June 28, 2024 | Amazon | Adept | License-and-hire | FTC informal inquiry reported (July 2024) |
| Aug. 2, 2024 | Character.AI | License-and-hire | DOJ antitrust inquiry reported (May 2025) | |
| Aug. 30, 2024 | Amazon | Covariant | License-and-hire | Whistleblower complaint to the FTC reported (January 2025) |
| Mar. 10, 2025 | ServiceNow | Moveworks | Acquisition | DOJ second request (June 2025); closed without a challenge (Dec. 15, 2025) |
| May 16, 2025 | Galileo AI | Acquisition | Approved by Turkey's Competition Board (May 2025) | |
| June 12, 2025 | Meta | Scale AI | Stake-and-hire | Cited in senators' letter asking the FTC and DOJ to investigate (Feb. 4, 2026) |
| July 11, 2025 | Windsurf | License-and-hire | Cited in senators' letter asking the FTC and DOJ to investigate (Feb. 4, 2026) | |
| Dec. 24, 2025 | Nvidia | Groq | License-and-hire | Cited in senators' letter asking the FTC and DOJ to investigate (Feb. 4, 2026); DOJ investigation reported (September 2026) |
| Dec. 29, 2025 | Meta | Manus | Acquisition | China's NDRC ordered the deal unwound (April 2026) |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- Eleven deals in the study drew a review, an inquiry, or a formal complaint. China's National Development and Reform Commission ordered Meta's purchase of Manus unwound in April 2026.
- No US, UK, or EU authority has blocked a deal in the study or required changes to one.
- In March 2026 the FTC and the Justice Department began considering premerger reporting changes that could cover acqui-hires and non-exclusive license deals. Deals like Apple's with Huxe are the kind of arrangement those changes would reach.
AI Deals Awaiting Completion
Signed deals can still fail at the regulatory stage or be renegotiated. The table lists deals in the study that had been announced but not completed as of October 31, 2026.
AI deals awaiting completion
| Announced | Buyer | Target | Value | Value basis |
|---|---|---|---|---|
| Apr. 24, 2026 | Cohere | Aleph Alpha | Undisclosed | Undisclosed |
| June 30, 2026 | Schneider Electric | Cognite | $3.1B | Disclosed |
| July 30, 2026 | Nscale | Anyscale | $1.65B | Reported |
| Aug. 19, 2026 | Stripe | OpenRouter | $7.5B | Reported |
| Sept. 2, 2026 | Nvidia | Hugging Face | $12.93B | Disclosed |
| Sept. 9, 2026 | Analog Devices | Alif Semiconductor | $1.35B | Disclosed |
| Sept. 28, 2026 | AMD | World Labs | $8.2B | Disclosed |
| Oct. 15, 2026 | Cohere | AISLE | Undisclosed | Undisclosed |
Source: AI Industry Reviews analysis of 84 AI company deals announced January 1, 2023 to October 31, 2026 (Source 1).
Key Findings
- Eight deals were still pending on October 31, 2026, with $34.7 billion in known value. Cohere's planned purchase of AISLE, announced on October 15, is the newest.
- Nvidia's $12.93 billion purchase of Hugging Face is the largest pending deal.
- We found no completion announcement for any of the eight through October 31. Buyers with large pending deals carry that exposure into their next purchases.
What AI Acquisition Trends Mean for 2027 and Beyond
For people building AI products, selling to a larger company has become a common outcome at every stage. October's targets ranged from a three-person audio app team to a security company that grew out of a decade of university research, and the buyers wanted their people as much as their software.
The buyer field has widened. AI labs now announce more deals than big tech companies, and Apple, which had one deal in the study before October, announced three in a single month. Most terms stay private, so the public price record grows slowly even as deal counts climb.
So if you run or invest in an AI startup, follow which buyers are announcing deals in your category, and use the handful of disclosed prices as the public benchmarks for what those buyers pay.
Data Collection and Methodology
Deciding which deals belong in the count shapes every total that follows, so the AI Industry Reviews research team set plain rules for what counts as an AI company, which buyers to follow, and how to price each deal.
A company counts as an AI company when its main product is an AI model, an AI application or agent, chips, cloud or software built for AI workloads, training data or evaluation for AI, or tools for building or securing AI systems. Companies in an established software or hardware category that have added AI features, such as data management, identity security or general-purpose chips, do not count. Data centers and their power and cooling suppliers do not count either.
The 14 tracked buyers are Alphabet (Google), Amazon, Apple, Meta, and Microsoft; the chipmakers Nvidia, AMD, Intel, and Qualcomm; and the AI labs OpenAI, Anthropic, xAI, Mistral AI, and Cohere. Their deals are included at any size. Deals by other buyers are included when the price, disclosed or reported, is at least $1 billion. Every deal had to be announced or confirmed on the record by the buyer or the target. Deals known only from reports that cite unnamed sources were left out.
Prices come first from the parties' press releases and SEC filings, which we label disclosed. Where the parties gave no price, we use a figure published by a major news outlet and label it reported, citing a page that states the figure and can be opened without a subscription. A price stated as "more than" or "at least" an amount is recorded at that amount, and earnouts that depend on future targets are left out. Deals with neither kind of price are marked undisclosed. They count toward deal numbers and add nothing to value totals. Known value means the sum of disclosed and reported prices. Each deal is dated by its first public announcement.
SpaceX's merger with xAI, at a reported $250 billion, is larger than all other deals in the study combined. Most value figures in the study are also shown without it.
An acquisition is a purchase of a company or substantially all of its assets. An acqui-hire brings over a startup's team and winds down its product. In a license-and-hire deal, the buyer pays for a license to the startup's technology and hires its founders and key staff, and the startup keeps operating. Meta's Scale AI deal, a 49% stake paired with hiring Scale's chief executive, is listed as stake-and-hire. Hire-based deals means acqui-hires, license-and-hire deals, and stake-and-hire deals together.
This edition adds deals announced from October 8 through October 31, 2026. Deals first made public through the European Commission's Digital Markets Act transparency listings are dated by the first public report of the listing. Apple's Huxe deal is classed as license-and-hire because the listing describes job offers paired with a non-exclusive license. Anthropic's Opaque Systems deal and Apple's Ascend.io deal are classed as acqui-hires because both startups said they are winding down. Cohere's AISLE deal is counted as pending from its October 15 announcement. We calculated products, differences, and ratios from the published values.
Large deals left out under the AI company rule include Google's $32 billion purchase of the cloud security company Wiz, Palo Alto Networks' purchase of CyberArk, Salesforce's purchase of Informatica, ServiceNow's purchase of Armis, IBM's purchase of Confluent, OpenAI's purchase of Statsig, and xAI's March 2025 merger with X. Cognition's purchase of the rest of Windsurf after Google's license-and-hire deal is also left out, because Cognition is not a tracked buyer and no price was disclosed.
Limits of the AI Deal Data
Some deals fall outside the study's rules, and knowing which ones helps readers judge the totals.
- The study covers 14 tracked buyers at any size and other buyers only at $1 billion or more. Smaller purchases by other companies, including many AI startups buying each other, fall outside it.
- Small deals by the tracked buyers that were never announced or confirmed by a party are left out, so the counts for those buyers are minimums.
- Of the 36 known prices, 19 come from news reports. Reported prices can differ from final terms, as the gap between the reported and filed figures for Nvidia and Groq shows.
- Value totals mix cash and stock deals at their announced value. Stock deals, including SpaceX's purchase of Cursor and AMD's planned purchase of World Labs, can be worth more or less by closing.
- Some companies sit near the line of the AI company rule. Darktrace, Celestial AI, Alif Semiconductor, and Glass Imaging are counted. Qualcomm's September 2026 agreement to buy PickNik is not, because PickNik's main product is robot motion-planning software.
- Nvidia's reported June 2026 purchase of Kumo AI is left out, because neither company announced or confirmed it on the record.
- Salesforce's September 2026 agreement to buy Listen Labs is left out. Salesforce did not disclose a price, and the reported figure of about $2 billion dates from before the final agreement.
- October deals left out under the AI company rule include Anthropic's purchase of Mithril Medicine, a biotech company; Mistral AI's purchase of the design studio New Material; Intel's purchase of the quantum software company Classiq; Qualcomm's purchase of Akeana, which designs general-purpose RISC-V processors; and Proofpoint's planned purchase of the data security company Varonis.
- Reported talks without an announced agreement are left out, including Amazon's reported talks to buy Decart and Nvidia's reported talks with Reflection AI in October 2026.
- Completion is not confirmed for three OpenAI deals announced as agreements: Neptune, Promptfoo, and Ona.
Sources
- AI Industry Reviews analysis of 84 AI acquisitions, acqui-hires, license-and-hire deals, and stake deals announced from January 1, 2023 to October 31, 2026, compiled from company announcements, SEC filings, regulator records, and news reports, conducted November 2026.
- TechCrunch, "Apple discloses deal to hire team and license tech from personalized podcast startup Huxe," October 10, 2026. techcrunch.com
- 9to5Mac, "Apple acqui-hires AI startup founded by former NotebookLM developers," October 9, 2026. 9to5mac.com
- Opaque Systems, "From Berkeley research to the future of AI: Opaque's next chapter," October 2026. opaque.co
- SecurityWeek, "Anthropic acquires confidential AI startup Opaque Systems," October 19, 2026. securityweek.com
- Cohere, "Cohere and AISLE sign letter of intent to advance cyber-resilient sovereign AI," October 15, 2026. cohere.com
- The Verge, "Apple acquired Samplab, which made AI-powered music production tools," October 19, 2026. theverge.com
- OpenAI, "OpenAI to acquire Orchestra Bio," October 20, 2026. openai.com
- TechCrunch, "OpenAI acquires startup Orchestra Bio to beef up its biotech business," October 20, 2026. techcrunch.com
- Axios, "Exclusive: Meta acquires AI data platform Sundial," October 23, 2026. axios.com
- The Verge, "Apple has acquired AI data engineering startup Ascend.io," October 30, 2026. theverge.com
- UK Competition and Markets Authority, Microsoft / Inflection AI merger inquiry. https://www.gov.uk/cma-cases/microsoft-slash-inflection-ai-inquiry
- UK Competition and Markets Authority, full text decision on Microsoft / Inflection AI, Oct. 2024. https://assets.publishing.service.gov.uk/media/6719ff5f549f63039436b3c8/__Full_text_decision__.pdf
- European Commission statement on withdrawal of Article 22 referral requests for Microsoft / Inflection, Sept. 18, 2024, reproduced by IEU Monitoring. https://ieu-monitoring.com/editorial/eu-commission-updates-status-of-inflection-microsoft-case/442344
- European Commission, decision on case M.11766 Nvidia / Run:ai, Dec. 20, 2024. https://ec.europa.eu/competition/mergers/cases1/202516/M_11766_10599589_2740_3.pdf
- UK Competition and Markets Authority, Amazon / Anthropic partnership merger inquiry. https://www.gov.uk/cma-cases/amazon-slash-anthropic-partnership-merger-inquiry
- UK Competition and Markets Authority, Microsoft / OpenAI partnership merger inquiry. https://www.gov.uk/cma-cases/microsoft-slash-openai-partnership-merger-inquiry
- Sen. Elizabeth Warren, letter with Sens. Wyden and Blumenthal on reverse acqui-hire deals, Feb. 4, 2026. https://www.warren.senate.gov/newsroom/press-releases/warren-wyden-blumenthal-call-on-federal-regulators-to-investigate-meta-google-nvidia-reverse-acqui-hire-deals
- Reuters via MarketScreener, acquihires and other tactics used to avoid antitrust deal reviews are a red flag, DOJ antitrust head says, Mar. 18, 2026. https://www.marketscreener.com/news/acquihires-often-used-by-big-tech-are-red-flag-doj-antitrust-head-says-ce7e5ed9df80f623
- TechCrunch, ServiceNow's acquisition of Moveworks reportedly under antitrust review, July 18, 2025. https://techcrunch.com/2025/07/18/servicenows-acquisition-of-moveworks-is-reportedly-being-reviewed-over-antitrust-concerns/
- Databricks, announcement of Databricks / MosaicML, June 26, 2023. https://www.databricks.com/company/newsroom/press-releases/databricks-signs-definitive-agreement-acquire-mosaicml-leading-generative-ai-platform
- OpenAI, announcement of OpenAI / Global Illumination, Aug. 16, 2023. https://openai.com/index/openai-acquires-global-illumination/
- AMD, announcement of AMD / Mipsology, Aug. 24, 2023. https://www.amd.com/en/blogs/2023/amd-acquires-mipsology-to-deepen-ai-inference-soft.html
- AMD, announcement of AMD / Nod.ai, Oct. 10, 2023. https://www.amd.com/en/newsroom/press-releases/2023-10-10-amd-to-acquire-open-source-ai-software-expert-nod-.html
- Microsoft, announcement of Microsoft / Inflection AI, Mar. 19, 2024. https://blogs.microsoft.com/blog/2024/03/19/mustafa-suleyman-deepmind-and-inflection-co-founder-joins-microsoft-to-lead-copilot/
- TechCrunch, reported price for Microsoft / Inflection AI. https://techcrunch.com/2024/03/21/microsoft-inflection-ai-investors-reid-hoffman-bill-gates/
- Nvidia, announcement of Nvidia / Run:ai, Apr. 24, 2024. https://blogs.nvidia.com/blog/runai/
- TechCrunch, reported price for Nvidia / Run:ai. https://techcrunch.com/2024/04/24/nvidia-acquires-ai-workload-management-startup-runai/
- TechCrunch, completion of Nvidia / Run:ai. https://techcrunch.com/2024/12/30/nvidia-completes-acquisition-of-ai-infrastructure-startup-runai/
- Thoma Bravo, completion of Thoma Bravo / Darktrace. https://www.thomabravo.com/press-releases/thoma-bravo-completes-acquisition-of-darktrace
- Adept, announcement of Amazon / Adept, June 28, 2024. https://www.adept.ai/blog/adept-update/
- CNBC, Amazon's deal with Adept faces FTC scrutiny, July 16, 2024. https://www.cnbc.com/2024/07/16/amazons-deal-with-ai-startup-adept-faces-ftc-scrutiny.html
- AMD, completion of AMD / Silo AI. https://www.amd.com/en/newsroom/press-releases/2024-8-12-amd-completes-acquisition-of-silo-ai-to-accelerate.html
- Character.AI, announcement of Google / Character.AI, Aug. 2, 2024. https://research.character.ai/our-next-phase-of-growth/
- Alphabet, 10-Q note on business combinations (Character.AI), quarter ended Sept. 30, 2024. https://www.sec.gov/Archives/edgar/data/1652044/000165204424000118/R16.htm
- The Verge, Google reportedly facing an antitrust probe over its Character.AI deal, May 2025. https://www.theverge.com/news/673126/google-is-reportedly-facing-an-antitrust-probe-over-its-character-ai-deal
- Xperi, 8-K on asset sale of Perceive to Amazon, Aug. 16, 2024. https://www.sec.gov/Archives/edgar/data/1788999/000110465924090493/tm2421774d1_8k.htm
- AMD, completion of AMD / ZT Systems. https://ir.amd.com/news-events/press-releases/detail/1240/amd-completes-acquisition-of-zt-systems
- Amazon, announcement of Amazon / Covariant, Aug. 30, 2024. https://www.aboutamazon.com/news/company-news/amazon-covariant-ai-robots
- Hard Reset, reported price for Amazon / Covariant. https://www.hardresetmedia.com/p/whistleblower-ftc-complaint-about-amazon-covariant
- AllSides, Washington Post excerpt on whistleblower complaint over Amazon / Covariant, Jan. 18, 2025. https://www.allsides.com/news/2025-01-18-0600/business-amazon-deal-ai-start-s-technology-draws-whistleblower-complaint
- VnExpress International, report on Nvidia / VinBrain, Dec. 5, 2024. https://e.vnexpress.net/news/tech/nvidia-buys-vingroup-s-ai-subsidiary-4824650.html
- CoreWeave, completion of CoreWeave / Weights & Biases. https://investors.coreweave.com/news/news-details/2025/CoreWeave-Completes-Acquisition-of-Weights--Biases/default.aspx
- TechCrunch, reported price for CoreWeave / Weights & Biases. https://techcrunch.com/2025/03/04/coreweave-acquires-ai-developer-platform-weights-biases/
- Qualcomm, announcement of Qualcomm / Edge Impulse, Mar. 10, 2025. https://www.qualcomm.com/news/releases/2025/03/qualcomm-to-bolster-ai-and-iot-capabilities-with-edge-impulse-ac
- ServiceNow, press release filed with SEC on agreement to acquire Moveworks, Mar. 10, 2025. https://www.sec.gov/Archives/edgar/data/1373715/000137371525000096/prmavericks3-10.htm
- ServiceNow, completion of ServiceNow / Moveworks. https://newsroom.servicenow.com/press-releases/details/2025/ServiceNow-completes-acquisition-of-Moveworks/default.aspx
- TechCrunch, report on xAI / Hotshot, Mar. 17, 2025. https://techcrunch.com/2025/03/17/elon-musks-ai-company-xai-acquires-a-generative-ai-video-startup/
- Qualcomm, announcement of Qualcomm / MovianAI (VinAI generative AI unit), Apr. 1, 2025. https://www.qualcomm.com/news/releases/2025/04/qualcomm-expands-generative-ai-capabilities-with-acquisition-of-
- TechCrunch, report on OpenAI / Context.ai (team), Apr. 15, 2025. https://techcrunch.com/2025/04/15/openai-hires-team-behind-gv-backed-ai-eval-platform-context-ai/
- TechCrunch, report on Cohere / Ottogrid, May 16, 2025. https://techcrunch.com/2025/05/16/ai-startup-cohere-acquires-ottogrid-a-platform-for-conducting-market-research/
- Concurrences, report on Google / Galileo AI, May 16, 2025. https://www.concurrences.com/en/bulletin/news-issues/may-2025/the-turkish-competition-board-approves-a-big-tech-firm-s-acquisition-of-a
- OpenAI, announcement of OpenAI / io Products, May 21, 2025. https://openai.com/sam-and-jony/
- TechCrunch, reported price for OpenAI / io Products. https://techcrunch.com/2025/05/21/jony-ive-to-lead-openais-design-work-following-6-5b-acquisition-of-his-company/
- AMD, announcement of AMD / Brium, June 4, 2025. https://www.amd.com/en/blogs/2025/amd-acquires-brium-to-strengthen-open-ai-software-ecosystem.html
- CRN, report on AMD / Untether AI (team), June 5, 2025. https://www.crn.com/news/components-peripherals/2025/exclusive-amd-acquires-team-behind-ai-chip-startup-untether-ai
- TechCrunch, AMD acqui-hires the employees behind Untether AI, June 6, 2025. https://techcrunch.com/2025/06/06/amd-acqui-hires-the-employees-behind-untether-ai/
- Scale AI, announcement of Meta / Scale AI, June 12, 2025. https://scale.com/blog/scale-ai-announces-next-phase-of-company-evolution
- AP, reported price for Meta / Scale AI. https://apnews.com/article/meta-ai-superintelligence-agi-scale-alexandr-wang-4b55aabf7ea018e38ffdccb66e37cf26
- TechCrunch, report on OpenAI / Crossing Minds (team), June 27, 2025. https://techcrunch.com/2025/06/27/openai-hires-team-behind-ai-recommendation-startup-crossing-minds/
- CNBC, report on Google / Windsurf, July 11, 2025. https://www.cnbc.com/2025/07/11/google-windsurf-ceo-varun-mohan-latest-ai-talent-deal-.html
- TechCrunch, report on Meta / PlayAI, July 11, 2025. https://techcrunch.com/2025/07/13/meta-acquires-voice-startup-play-ai/
- TechCrunch, report on Amazon / Bee, July 22, 2025. https://techcrunch.com/2025/07/22/amazon-acquires-bee-the-ai-wearable-that-records-everything-you-say/
- TechCrunch, report on Meta / WaveForms, Aug. 8, 2025. https://techcrunch.com/2025/08/08/meta-acquires-ai-audio-startup-waveforms/
- TechCrunch, report on Anthropic / Humanloop (team), Aug. 13, 2025. https://techcrunch.com/2025/08/13/anthropic-nabs-humanloop-team-as-competition-for-enterprise-ai-talent-heats-up/
- Workday, announcement of Workday / Paradox, Aug. 21, 2025. https://newsroom.workday.com/2025-08-21-Workday-Signs-Definitive-Agreement-to-Acquire-Paradox,-the-AI-Company-Redefining-the-Frontline-Candidate-Experience
- Workday, 10-Q for quarter ended July 31, 2025, Note 20 (Paradox). https://www.sec.gov/Archives/edgar/data/1327811/000132781125000184/wday-20250731.htm
- Workday, announcement of Workday / Sana, Sept. 16, 2025. https://newsroom.workday.com/2025-09-16-Workday-Signs-Definitive-Agreement-to-Acquire-Sana
- CNBC, report on Nvidia / Enfabrica, Sept. 18, 2025. https://www.cnbc.com/2025/09/18/nvidia-spent-over-900-million-on-enfabrica-ceo-ai-startup-technology.html
- Latham & Watkins, counsel to Meta, on Meta / Rivos, Oct. 2025. https://www.lw.com/en/news/2025/10/latham-watkins-advises-meta-in-acquisition-of-rivos
- TechCrunch, report on OpenAI / Roi, Oct. 3, 2025. https://techcrunch.com/2025/10/03/with-its-latest-acqui-hire-openai-is-doubling-down-on-personalized-consumer-ai/
- OpenAI, announcement of OpenAI / Software Applications Inc. (Sky), Oct. 23, 2025. https://openai.com/index/openai-acquires-software-applications-incorporated/
- AMD, announcement of AMD / MK1, Nov. 10, 2025. https://www.amd.com/en/blogs/2025/amd-acquires-mk1-to-advance-ai-inference-performance.html
- Marvell, announcement of Marvell / Celestial AI, Dec. 2, 2025. https://investor.marvell.com/news-events/press-releases/detail/1000/marvell-to-acquire-celestial-ai-accelerating-scale-up-connectivity-for-next-generation-data-centers
- OpenAI, announcement of OpenAI / Neptune, Dec. 3, 2025. https://openai.com/index/openai-to-acquire-neptune/
- CNBC, report on Meta / Limitless, Dec. 5, 2025. https://www.cnbc.com/2025/12/05/meta-limitless-ai-wearable.html
- Groq, announcement of Nvidia / Groq, Dec. 24, 2025. https://groq.com/newsroom/groq-and-nvidia-enter-non-exclusive-inference-technology-licensing-agreement-to-accelerate-ai-inference-at-global-scale
- Nvidia, 10-K for fiscal 2026, Note 2 (Groq). https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm
- CNBC, reported price for Nvidia / Groq at announcement, Dec. 24, 2025. https://www.cnbc.com/2025/12/24/nvidia-buying-ai-chip-startup-groq-for-about-20-billion-biggest-deal.html
- Axios, DOJ investigates Nvidia's deal with Groq, Sept. 10, 2026. https://www.axios.com/2026/09/10/doj-nvidia-groq-antitrust
- Manus, announcement of Meta / Manus, Dec. 29, 2025. https://manus.im/en/blog/manus-joins-meta-for-next-era-of-innovation
- CNBC, reported price for Meta / Manus. https://www.cnbc.com/2025/12/30/meta-acquires-singapore-ai-agent-firm-manus-china-butterfly-effect-monicai.html
- CNBC, China's order to unwind Meta / Manus, Aug. 11, 2026. https://www.cnbc.com/2026/08/11/manus-china-meta-acquisition.html
- Microsoft, announcement of Microsoft / Osmos, Jan. 5, 2026. https://blogs.microsoft.com/blog/2026/01/05/microsoft-announces-acquisition-of-osmos-to-accelerate-autonomous-data-engineering-in-fabric/
- TechCrunch, report on OpenAI / Convogo (team), Jan. 8, 2026. https://techcrunch.com/2026/01/08/openai-to-acquire-the-team-behind-executive-coaching-ai-tool-convogo/
- TechCrunch, report on OpenAI / Torch, Jan. 12, 2026. https://techcrunch.com/2026/01/12/openai-buys-tiny-health-records-startup-torch-for-reportedly-100m/
- Wired, report on Google / Hume AI, Jan. 22, 2026. https://www.wired.com/story/google-hires-hume-ai-ceo-licensing-deal-gemini/
- Mint, report on Apple / Q.ai, Jan. 29, 2026. https://www.livemint.com/companies/news/apple-acquires-israeli-audio-ai-startup-q-ai-reportedly-for-1-6-billion-11769739394671.html
- TechCrunch, FT-reported price for Apple / Q.ai, Jan. 29, 2026. https://techcrunch.com/2026/01/29/apple-buys-israeli-startup-q-ai-as-the-ai-race-heats-up/
- SpaceX, merger agreement with xAI, filed with SEC. https://www.sec.gov/Archives/edgar/data/1181412/000162828026021860/filename2.htm
- CNBC, reported price for SpaceX / xAI (including X). https://www.cnbc.com/2026/02/03/musk-xai-spacex-biggest-merger-ever.html
- Koyeb, announcement of Mistral AI / Koyeb, Feb. 17, 2026. https://www.koyeb.com/blog/koyeb-is-joining-mistral-ai-to-build-the-future-of-ai-infrastructure
- Globes, report on Nvidia / Illumex, Feb. 23, 2026. https://en.globes.co.il/en/article-nvidia-acquires-israeli-data-co-illumex-1001535871
- Calcalist, estimated price for Nvidia / Illumex. https://www.calcalistech.com/ctechnews/article/hkrcgl5dbx
- Anthropic, announcement of Anthropic / Vercept, Feb. 25, 2026. https://www.anthropic.com/news/acquires-vercept
- OpenAI, announcement of OpenAI / Promptfoo, Mar. 9, 2026. https://openai.com/index/openai-to-acquire-promptfoo/
- BBC News, report on Meta / Moltbook, Mar. 10, 2026. https://www.bbc.com/news/articles/cvg1x788dreo
- Axios, report on Meta / Moltbook, Mar. 10, 2026. https://www.axios.com/2026/03/10/meta-facebook-moltbook-agent-social-network
- TechCrunch, report on Anthropic / Coefficient Bio, Apr. 3, 2026. https://techcrunch.com/2026/04/03/anthropic-buys-biotech-startup-coefficient-bio-in-400m-deal-reports/
- Fintool founder Nicolas Bustamante, announcement of Microsoft / Fintool, Apr. 18, 2026. https://nicolasbustamante.com/blog/microsoft-has-acquired-fintool
- AWS, announcement of Amazon / NLX, Apr. 23, 2026. https://aws.amazon.com/blogs/contact-center/amazon-connect-deploy-conversational-ai-in-weeks-not-months/
- Cohere, announcement of Cohere / Aleph Alpha, Apr. 24, 2026. https://cohere.com/blog/cohere-alephalpha-join-forces
- Cohere, definitive agreement with Aleph Alpha, Sept. 16, 2026. https://cohere.com/blog/cohere-and-aleph-alpha-sign-agreement
- TechCrunch, report on Meta / Assured Robot Intelligence, May 1, 2026. https://techcrunch.com/2026/05/01/meta-buys-robotics-startup-to-bolster-its-humanoid-ai-ambitions/
- Cohere, announcement of Cohere / Reliant AI, May 19, 2026. https://cohere.com/blog/cohere-acquires-reliant-ai-expand-sovereign-enterprise-ai
- Mistral AI, announcement of Mistral AI / Emmi AI, May 19, 2026. https://mistral.ai/news/accelerate-ai-native-industry/
- OpenAI, announcement of OpenAI / Ona, June 15, 2026. https://openai.com/index/openai-to-acquire-ona/
- Salesforce, announcement of Salesforce / Fin, June 15, 2026. https://investor.salesforce.com/news/news-details/2026/Salesforce-Signs-Definitive-Agreement-to-Acquire-Fin/default.aspx
- SpaceX, 8-K on merger agreement with Anysphere (Cursor), June 16, 2026. https://www.sec.gov/Archives/edgar/data/1181412/000162828026043411/spaceexplorationtechnologi.htm
- SpaceX, 8-K on completion of the Cursor merger, Aug. 14, 2026. https://www.sec.gov/Archives/edgar/data/1181412/000162828026056945/spcx-20260814.htm
- Qualcomm, announcement of Qualcomm / Modular, June 24, 2026. https://www.qualcomm.com/news/releases/2026/06/qualcomm-to-acquire-modular
- Network World, reported price for Qualcomm / Modular. https://www.networkworld.com/article/4189098/qualcomms-3-9-billion-purchase-of-modular-aims-to-change-the-data-center-dynamic.html
- Qualcomm, completion of acquisition of Modular, July 2026. https://www.qualcomm.com/news/releases/2026/07/qualcomm-completes-acquisition-of-modular
- Qualcomm, 8-K on agreement to acquire Modular, June 24, 2026. https://www.sec.gov/Archives/edgar/data/804328/000110465926077071/tm2618522d1_8k.htm
- Cognite, announcement of Schneider Electric / Cognite, June 30, 2026. https://resources.cognite.com/en/company/newsroom/schneider-electric-announces-agreement-to-acquire-cognite
- Cyera, announcement of Cyera / Oasis Security, July 28, 2026. https://www.cyera.com/blog/one-platform-to-secure-the-agentic-enterprise
- TechCrunch, reported price for Cyera / Oasis Security. https://techcrunch.com/2026/07/28/cyera-agrees-to-acquire-oasis-security-for-1b-to-safeguard-proliferating-ai-agents/
- Cyera, completion of Cyera / Oasis Security. https://www.cyera.com/press-releases/cyera-completes-acquisition-of-oasis-security
- Nscale, announcement of Nscale / Anyscale, July 30, 2026. https://www.nscale.com/press-releases/nscale-acquires-anyscale
- TechCrunch, reported price for Nscale / Anyscale. https://techcrunch.com/2026/07/30/nscale-buys-anyscale-as-it-seeks-to-own-more-of-the-ai-compute-stack/
- AMD press release via GlobeNewswire, announcement of AMD / Taalas, Aug. 6, 2026. https://www.globenewswire.com/news-release/2026/08/06/3340748/0/en/amd-acquires-taalas-to-advance-compute-solutions-for-rapidly-growing-ai-inference-market.html
- TechCrunch, report on OpenAI / NextSlide, Aug. 8, 2026. https://techcrunch.com/2026/08/08/openai-acquires-presentation-startup-nextslide/
- Stripe, announcement of Stripe / OpenRouter, Aug. 19, 2026. https://stripe.com/newsroom/news/stripe-agrees-to-acquire-openrouter
- CNBC, reported price for Stripe / OpenRouter. https://www.cnbc.com/2026/08/19/stripe-openrouter-fintech-ai-model-marketplace-.html
- Nvidia, 8-K on agreement to acquire Hugging Face, Sept. 2, 2026. https://www.sec.gov/Archives/edgar/data/1045810/000104581026000078/nvda-20260902.htm
- Nvidia, blog post on agreement to acquire Hugging Face, Sept. 2, 2026. https://blogs.nvidia.com/blog/nvidia-to-acquire-hugging-face/
- Analog Devices press release via PR Newswire, announcement of Analog Devices / Alif Semiconductor, Sept. 9, 2026. https://www.prnewswire.com/news-releases/analog-devices-to-acquire-alif-semiconductor-adding-an-ai-native-processing-platform-to-advance-physical-intelligence-for-the-next-generation-of-real-world-systems-302873715.html
- Stilla, announcement of Meta / Stilla, Sept. 9, 2026. https://stilla.ai/blog/stilla-is-joining-meta
- TechCrunch, report on OpenAI / Glass Imaging, Sept. 14, 2026. https://techcrunch.com/2026/09/14/openai-buys-smartphone-camera-maker-glass-imaging-for-300-million-report-says/
- AMD, announcement of AMD / World Labs, Sept. 28, 2026. https://ir.amd.com/news-events/press-releases/detail/1299/amd-to-acquire-world-labs-to-advance-the-future-of-ai-compute
- AMD, 8-K on agreement to acquire World Labs, Sept. 2026. https://www.sec.gov/Archives/edgar/data/2488/000000248826000182/amd-20260926.htm