From energy to AI: Five major US business deals of 2026

# Five Major Business Deals That Shaped the First Half of 2026

The first half of 2026 has been marked by a wave of major mergers and acquisitions spanning artificial intelligence, space technology, energy, media and consumer goods. From billion-dollar technology combinations to massive energy and entertainment deals, companies have been using acquisitions and mergers to expand their reach, strengthen their market positions and gain access to rapidly growing industries.

Some of the transactions have also attracted regulatory scrutiny and concerns about competition, showing that the biggest corporate deals can have consequences far beyond the companies involved. Here are five of the most significant deals announced or completed during 2026.

**1. SpaceX and xAI — $250 Billion Merger**

One of the year's biggest transactions involved two companies controlled by Elon Musk. SpaceX merged with artificial intelligence company xAI in a deal valued at $250 billion, creating a combined business valued at approximately $1.25 trillion. The transaction brought SpaceX’s space exploration and Starlink satellite operations together with xAI’s artificial intelligence businesses, including Grok and its AI models. Musk received a 43% stake in the combined company, with the deal briefly pushing his personal fortune above the trillion-dollar mark.

**2. Paramount Skydance and Warner Bros. Discovery — $110 Billion Deal**

The entertainment industry saw another major consolidation after Paramount Skydance agreed to acquire Warner Bros. Discovery for approximately $110 billion. The deal followed a closely watched bidding contest that also involved Netflix. The proposed combination has faced opposition from shareholders and regulators, with California and 11 other states filing a federal lawsuit challenging the transaction over concerns about competition and the potential influence of the combined company across film and television markets.

**3. SpaceX and Cursor — $60 Billion Acquisition**

SpaceX also expanded aggressively into artificial intelligence by completing its $60 billion acquisition of Cursor, an AI coding startup. The companies had previously partnered on AI development, with Cursor contributing to the training of Grok. The acquisition gives SpaceX a stronger position in AI software while bringing Cursor’s coding technology into the broader SpaceX ecosystem. Analysts have estimated that Cursor could generate billions of dollars in additional revenue for SpaceX over the next several years.

**4. Devon Energy and Coterra Energy — $58 Billion Merger**

The energy industry also saw major consolidation as Devon Energy and Coterra Energy completed an all-stock merger valued at approximately $58 billion. The combined company continues to operate under the Devon Energy name. Devon shareholders hold roughly 54% of the new company, while former Coterra shareholders own about 46%. The merger creates a larger energy producer with greater scale and resources across the U.S. market.

**5. Unilever and McCormick — $66 Billion Combination**

The consumer goods industry witnessed another major transaction through the combination of Unilever’s food business and spice maker McCormick in a deal valued at approximately $66 billion. The resulting business brings together well-known brands including Hellmann’s, Marmite and Knorr with McCormick’s spices and sauces such as Frank’s RedHot and Cholula. Unilever shareholders hold 65% of the combined group, while McCormick investors own the remaining 35%.

Together, these deals highlight how companies are positioning themselves for the next phase of global business. Artificial intelligence and space technology are attracting enormous amounts of capital, while traditional industries such as energy, entertainment and consumer goods are pursuing consolidation to achieve greater scale.

The deals also demonstrate that size alone does not guarantee an easy path forward. Regulatory challenges, competition concerns and shareholder scrutiny could determine whether some of the largest transactions ultimately deliver the growth and strategic advantages companies expect.