Total Technology industry artificial intelligence deals worth $3.5bn were announced globally for May 2022, with the $200m acquisition of Seebo Interactive being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 75.9% over the previous month of $14.56bn and a drop of 59.8% when compared with the last 12-month average of $8.72bn.

In terms of number of artificial intelligence deals, the sector saw a drop of 13.59% with 267 deals in May 2022 when compared to the last 12-month average of 309 deals.

In value terms, North America led the activity with artificial intelligence deals worth $1.83bn in May 2022.

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Technology industry artificial intelligence deals in May 2022: Top deals

The top five artificial intelligence deals accounted for 21.4% of the overall value during May 2022.

The combined value of the top five artificial intelligence deals stood at $749m, against the overall value of $3.5bn recorded for the month.

The top five Technology industry artificial intelligence deals of May 2022 tracked by GlobalData were:

1) Augury $200m acquisition deal with Seebo Interactive

2) The $180m acquisition of 10% stake in Hangzhou B-Soft by Philips (China) Investment

3) Insight Partners and Kleiner Perkins $150m venture financing deal with Motive Technologies

4) The $110m venture financing of GreyOrange by BlackRock and Mithril Capital Management

5) Broadridge Financial Solutions,Franklin Resources,Hamilton Lane,J.P. Morgan Asset Management,Morningstar and Motive Partners $109m venture financing deal with The Tifin Group