i5invest USA || US Tech M&A Tracker

Regulatory Updates

• 🔥 FY2025 HSR Report: FTC and DOJ reported 2,006 HSR filings in FY2025, stable year-over-year, with 31.8% valued at $1...

The FTC's proposed Section 5 policy statement warns AI companies against representations about accuracy, objectivity, or reliability that conflict...

• Common driver: Onsemi, Qualcomm, TDK, and Renesas deals all target AI spread from data centers into edge devices and physical systems
• Deal...

• 2,006 HSR filings remained flat year-over-year, well below post-COVID peaks.
• 31.8% of deals exceeded $1B—doubling from 13.3% in FY2019—indicating...

State antitrust suits now pose a major post-DOJ hurdle for media and tech M&A, as the Paramount-WBD merger shows.

• Daily penalty: $6.9M ticking fees...

China's April 2026 veto of Meta's $2B Manus acquisition marks a sharp escalation in US-China tech rivalry, with Beijing reclaiming the Singapore-based...

Dynamic competition analysis, long criticized as anti-enforcement, actually supports intervention in mergers by reshaping assessments of market power,...

Omeed Assefi defended the Trump DOJ's approach of delivering instant consumer relief over prolonged courtroom fights to reshape antitrust law.

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FTC Regulatory Shift

• 🔥 Supreme Court Ruling: On June 29, 2026, the Supreme Court ruled 6-3 that FTC Commissioners' statutory for-cause removal...

Ondas' largest acquisition to date combines cash and stock to add proven autonomous aircraft, counter-UAS, and strike platforms with existing U.S....

The June 29, 2026 Supreme Court decision struck down for-cause removal protections, making FTC Commissioners removable at will by the President and...

Creator Economy M&A hit a record 70 deals in H1 2026, with media assets claiming the top spot at 27.1% of volume.

• Media's lead over software...

Big Tech AI Capex Trends

• 🔥 Morgan Stanley AI Spending Forecast: Morgan Stanley projects combined capex by Alphabet, Amazon, Meta, Microsoft,...

More than 100 authors sued Anthropic in San Francisco federal court, alleging it trained Claude models on pirated books from sites like Books3 and...

Five tech giants are forecast to spend $1.1 trillion on AI infrastructure by 2027, with 2026 outlays already revised up to $805 billion. The buildout...

PE sponsors are rotating capital into scaled AI infrastructure platforms while broader M&A shows megadeal strength.

• $2.4B AI bet: CPP Investments...

Antitrust Policy Shifts

• 🔥 Candeub Nomination: The White House is poised to nominate Adam Candeub as DOJ Antitrust Chief, per Bloomberg...

• Candeub pick: Trump nominates FCC counsel as DOJ antitrust chief, hinting at business-friendly shift
• Trial avoidance: Top official signals...

• Strategic rationale: Deal adds immediate connected compute and software reach, positioning ON Semi for intelligent systems demand while expanding...

AI Chip Deal Flow

• 🔥 Qualcomm-Modular: Qualcomm is in advanced talks to acquire AI chip startup Modular in a $4 billion deal.

Antitrust and...