Stories
Shows how policy, balance sheets, market structure, and investor expectations transmit change across industries.
In 2025, the global M&A market shows a trend of regional differentiation: North America focuses on technology and healthcare, Europe is making strides in energy transition and industrial goods, while Asia-Pacific is driven by consumption upgrading and the digital economy. Companies need to gain a deep understanding of regional industry ecosystems in order to seize deal opportunities.
The deep technology market is experiencing rapid growth, with a valuation of $133.77 billion in 2024 and projected to surge to $476.51 billion by 2035, representing a compound annual growth rate of 12.24%. Artificial intelligence, quantum computing, biotechnology, and the Internet of Things have become the core driving forces. Healthcare is the largest application area, while finance has become the fastest-growing sector due to blockchain technology. North America leads in the field of artificial intelligence, while the Asia-Pacific region is developing rapidly in quantum computing. Tech giants such as IBM, Google, and Microsoft hold a dominant position.
In December, the total US venture capital investment was $15.4 billion, a month-on-month decrease of 15.4%. AI companies received $10.4 billion, accounting for 67.6%.
As of 2026, the deep tech industry has raised over $1.33 trillion in cumulative funding over the past decade, with over $375 billion raised in 2026 alone. The United States leads with 28,758 startups, with OpenAI, NVIDIA, etc. as benchmarks. Early-stage and late-stage funding reached $287 billion and $726 billion respectively.
PitchBook says U.S. venture investment reached $412.7 billion in the first half of 2026, with AI deals absorbing the vast majority of capital; SpaceX’s $1.7 trillion IPO was the quarter’s most important exit event. Together, the sources point to a record market size driven mainly by a handful of very large transactions. Reuters’ coverage of SpaceX-related market valuations is more cautious, suggesting that some high-valuation claims leave room for greater volatility.
PitchBook’s “Q2 2026 Global VC First Look” shows that global venture capital deal value rose for a second consecutive quarter in Q2 2026, led by larger financings; after the IPO market reopened, exit value and exit activity also recovered. At the H1 level, deals, exits, and fundraising showed a “divergent but improving” trend, though fundraising remained selective.