Total technology industry artificial intelligence deals worth $4.8bn were announced globally for May 2021, with the $500m acquisition of WaveOptics being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 91.9% over the previous month of $59.02bn and a drop of 67% when compared with the last 12-month average of $14.41bn.

In terms of number of artificial intelligence deals, the sector saw a drop of 10.26% with 245 deals in May 2021 when compared to the last 12-month average of 273 deals.

In value terms, North America led the activity with artificial intelligence deals worth $2.13bn in May 2021.

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technology industry artificial intelligence deals in May 2021: Top deals

The top five artificial intelligence deals accounted for 29.3% of the overall value during May 2021.

The combined value of the top five artificial intelligence deals stood at $1.4bn, against the overall value of $4.8bn recorded for the month.

The top five technology industry artificial intelligence deals of May 2021 tracked by GlobalData were:

1) Snap’s $500m acquisition of WaveOptics

2) The $300m acquisition of Prospera Technologies by Valmont Industries

3) Accel, Advent International, Avenir Entreprises Gestion, Bessemer Venture Partners, General Catalyst Partners and Iris Capital’s $220m venture financing of Shift Technology

4) The $200m acquisition deal of Second Spectrum by Genius Sports Group

5) SoftBank Vision Fund II’s venture financing deal with Riiid for $175m.