Across 33 acquisitions totaling $157 billion, 2025's AI M&A revealed a strategic shift: companies bought infrastructure to power autonomous agents, not models. From Google's $32B Wiz deal to IBM's $27.8B data stack and Salesforce's $8B governance play, 16 key acquisitions reveal who's positioned for 2026—and who's already falling behind.
Across 33 acquisitions totaling $157 billion, 2025's AI M&A revealed a strategic shift: companies bought infrastructure to power autonomous agents, not models. From Google's $32B Wiz deal to IBM's $27.8B data stack and Salesforce's $8B governance play, 16 key acquisitions reveal who's positioned for 2026—and who's already falling behind.
Across 33 acquisitions totaling $157 billion, 2025's AI M&A revealed a strategic shift: companies bought infrastructure to power autonomous agents, not models. From Google's $32B Wiz deal to IBM's $27.8B data stack and Salesforce's $8B governance play, 16 key acquisitions reveal who's positioned for 2026—and who's already falling behind.
