New Delhi [India], December 20 : Global dealmaking activity is surging as companies use "dream deals" to gain new technology and grow their market size. The Goldman Sachs 2026 Global M&A Outlook report shows that global M&A volumes increased by 40 per cent year-over-year. A major part of this growth comes from the largest transactions, as mega M&A deals worth over USD 10 billion rose by 128 per cent. This surge follows a period of market changes where central banks cut interest rates and policy rules became clearer.
Artificial intelligence is now a primary force driving these transactions across every sector of the economy. Many companies are choosing to buy technology firms rather than building their own systems to save time. This shift is creating a massive need for infrastructure, with 65 gigawatts of new data center capacity expected to come online by 2030. This amount is more than double the capacity added between 2019 and 2024. Surveys show that 51 per cent of business leaders believe AI will have a moderate to high impact on their deal strategies for the coming year.
Private markets are also playing a larger role, with global take-private deal volumes growing by 31 per cent. Business sponsors are finding new ways to hold onto successful companies for longer periods while still providing cash to their investors.
Stephan Feldgoise, Global Head of M&A, states, "The current cycle will be defined by strategic repositioning and building for scaleand extraordinary ambition is accelerating the pace of these moves." He notes that extraordinary ambition is accelerating the pace of these moves. About 57 per cent of clients say that a focus on scale and growth is the main reason they are making M&A decisions.
Specific industries are seeing double-digit growth in deal activity. Industrial M&A volumes rose by 49 per cent, and healthcare deal volumes increased by 41 per cent as companies seek new treatments and electrification technology. Meanwhile, global corporate separation activity grew by 38 per cent as large firms split off parts of their business to unlock more value.
David Dubner, Global COO of M&A, said, "The fundamental drivers of M&Athe availability of capital in the public and private markets, the resurgence of the IPO market, the desire to continue to position strategically, the ability to get things donethese forces are all in play in 2026."
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