Foxconn Industrial Internet’s $1.46bn acquisition deal for 17.9% stake in Tsinghua Unigroup was the technology industry’s biggest artificial intelligence deal of Q3 2022 as artificial intelligence deals worth $10.3bn were announced globally in the quarter, according to GlobalData’s deals database.
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The value marked a decrease of 65.3% over the previous quarter and a drop of 62.3% when compared with the last four-quarter average of $27.23bn.
In terms of number of artificial intelligence deals, the sector saw a drop of 15.99% with 792 deals in Q3 2022 against the average of 942.75 deals in the last four-quarters.
In value terms, North America led the activity with artificial intelligence deals worth $4.39bn.
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technology industry artificial intelligence deals in Q3 2022: Top deals
The top five technology industry artificial intelligence deals accounted for 34.6% of the overall value during Q3 2022.
The combined value of the top five artificial intelligence deals stood at $3.54bn, against the overall value of $10.3bn recorded for the quarter.
The top five technology industry artificial intelligence deals of Q3 2022 tracked by GlobalData were:
1) Foxconn Industrial Internet’s $1.46bn acquisition deal for 17.9% stake in Tsinghua Unigroup
2) The $718.86m private equity of Nearmap by Thoma Bravo
3) Beijing Xinding Rongsheng Capital Management, El Camino Capital, GF Xinde Investment Management, Hanhai, Hina Group Fund, Industrial Bank, Northbeta Yinuo Capital, Summitview Capital and Yangzijiang Financial Holding’s $500m venture financing deal with Black Sesame Intelligent Technology
4) The $468.11m private equity of Lloyd’s List Intelligence by Montagu Private Equity
5) BlackRock, BPI France, Canaan Partners, Eurazeo, Highland Europe (UK), KKRInc, LionTree, Sixth Street Growth and SoftBank Vision Fund 2’s $400m venture financing deal with Content Square