AI strategy, identity has driven M&A action, says Axios' Dan Primack

M&A Market Overview - Global dealmaking has reached $26 trillion, the highest for the first seven months of the year since 2021 [1] - The upward trend is driven by major mergers in the United States [1] Driving Factors - Record high equity prices enable companies to use stock deals [2] - Companies are actively strategizing around AI, leading to acquisitions to fill gaps in their tech stacks [2][3] - Companies are trying to hurry up and get in there before this window closes [5] Potential Risks & Considerations - Announced deals may collapse or be blocked by regulators [3] - The IPO market's performance could influence whether companies choose to go public or be acquired [6] - Most M&A activity has been driven by strategic public companies, with limited involvement from private equity firms [7] Sector Focus - Tech M&A is a primary driver, experiencing a resurgence after a period of inactivity [9] - Other sectors include rail and energy, but tech dominates the M&A landscape [9] Future Outlook - Potential for increased private equity involvement if retirement funds are allowed to invest in private equity [8]