Global mergers and acquisitions reached $2.8tn in the first half of 2026, marking a 49 percent surge from the same period last year. The London Stock Exchange Group data shows megadeals dominated the landscape as companies moved past war concerns and market volatility to pursue transformative transactions.

Dominion Energy's merger with Next Era Energy created a $420bn utilities giant, exemplifying how AI-driven data center demand is reshaping dealmaking. US deal values jumped 77 percent while Europe posted a 105 percent increase, though European transaction volumes fell 14.2 percent due to the Iran war's outsized impact.

The divergence reflects shifting confidence levels, with US markets remaining resilient while international activity faces headwinds. Deal lawyers at firms like Cleary Gottlieb note boards are exploring once-in-a-cycle transactions amid relaxed antitrust enforcement under the Trump administration.

AI infrastructure requirements are driving this consolidation wave, as companies race to secure power generation capabilities for data centers. The trend suggests continued momentum for large-scale transactions through the remainder of 2026.