AI startups are increasingly using M&A to accelerate product development and market expansion. According to Crunchbase, there were 195 acquisitions of AI startups by venture-backed companies through September 29, marking a 14% increase compared to the total for 2025.
OpenAI remains the most active buyer with 20 total AI-related acquisitions, including 10 this year. Other repeat buyers include Anthropic and the legal tech startup Legora, which have each completed five deals. Harvey, Sierra, and Cursor have also been active in the market.
Several transactions reached significant valuations. Nscale acquired Anyscale for $1.65 billion, while Cyera bought Oasis Security for $1 billion. Anthropic’s purchase of Coefficient Bio was valued at $400 million, and OpenAI acquired Glass Imaging for $300 million.
Vertical AI startups are focusing on acquiring specialized teams and tools to fill product gaps. For instance, Harvey has targeted legal tech and asset management software, while Sierra has pursued international expansion and advanced agent technology through its acquisitions.
