OpenAI Accelerates M&A in 2026
OpenAI, based in San Francisco, has made six acquisitions in 2026, nearly as many as the eight it completed in 2025, according to Crunchbase data. The company has acquired 17 companies over the past three years, with its latest deals including Astral on March 19 and Promptfoo this month, both focused on open-source tools for developers. OpenAI began its acquisition activity in April 2025, following only two acquisitions in 2024—Rockset and Multi—and one in 2023, Global Illumination.
Recent Acquisition Details
In January 2026, OpenAI announced three acquisitions: Convogo, a consulting firm specializing in custom AI solutions, predictive analytics, and strategy; Torch Health, an AI-powered app for unifying medical records; and Crixet, which offers LaTeX editing and error detection tools. In February 2026, OpenAI participated in an acqui-hire deal for OpenClaw, an open-source AI agent, and its creator. These moves follow OpenAI’s pattern of targeting companies that enhance its AI capabilities, such as the May 2025 acquisition of Io for $6.5 billion, which developed AI-powered devices, as per Crunchbase data.
OpenAI’s Funding Support for M&A
OpenAI closed a $110 billion fundraising round in late February, achieving an $840 billion post-money valuation, with investors including SoftBank, Nvidia, Amazon, Andreessen Horowitz, Sequoia Capital, TPG, and Insight Partners. This funding enables OpenAI’s acquisition strategy despite reports of unprofitability, though not all deals succeed, as evidenced by the collapsed $3 billion purchase of Windsurf last July. The company’s deep pockets allow it to pursue M&A aggressively, contrasting with rivals like Anthropic, which has made only one acquisition in 2026—Vercept—and two in 2025, Humanloop and Bun.
Broader Startup M&A Trends
Overall, startup M&A activity has remained robust in 2026, including major deals like Capital One’s $5.15 billion purchase of Brex and Eli Lilly’s $2.4 billion acquisition of Orna Therapeutics, according to Crunchbase data. In the AI sector, there is continued interest in acqui-hires and purchases of early-stage startups, reflecting OpenAI’s strategy of boosting its offerings through such transactions.
