North America’s technology industry saw a drop of 82.81% in artificial intelligence deal activity during July 2022, when compared with the last 12-month average, led by Avichal Garg, Elad Gil, Jack Altman, Keith Rabois and Stripe’s $40m acquisition of Pulley, according to GlobalData’s deals database.
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A total of 22 technology industry artificial intelligence deals worth $264.1m were announced for the region in July 2022, against the 12-month average of 128 deals.
Of all the deal types, venture financing saw most activity in July 2022 with 19 transactions, representing an 86.4% share for the region.
In second place was M&A with two deals, followed by private equity deals with one transactions, respectively capturing a 9.1% and 4.6% share of the overall artificial intelligence deal activity for the month.
In terms of value of artificial intelligence deals, venture financing was the leading category in North America’s technology industry with $264.14m.
North America technology industry artificial intelligence deals in July 2022: Top deals
The top five technology artificial intelligence deals accounted for 63.6% of the overall value during July 2022.
The combined value of the top five technology artificial intelligence deals stood at $168m, against the overall value of $264.1m recorded for the month.
The top five technology industry artificial intelligence deals of July 2022 tracked by GlobalData were:
1) Avichal Garg, Elad Gil, Jack Altman, Keith Rabois and Stripe $40m venture financing deal with Pulley
2) The $40m venture financing of Arable Labs by Ajax Strategies, Galvanize Climate Solutions, Grupo Jacto, iSelect, M2O, Middleland Capital, Prelude Ventures, Qualcomm Ventures and S2G Ventures
3) Centana Growth Partners $33m venture financing deal with Zesty.ai
4) The $30m venture financing of AssemblyAI by Accel,Insight Partners and Y Combinator
5) Softbank Ventures Korea $25m venture financing deal with Aquabyte
Verdict deals analysis methodology
This analysis considers only announced and completed artificial intelligence deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.
Source: https://www.verdict.co.uk/north-americas-technology-industry-saw-a-drop-of-82-81-in-artificial-intelligence-deal-activity-during-july-2022/
