US CEO M&A Intent Surges, Signaling Shift from Defensive to Growth Mode
Event summary
- 62% of US CEOs plan to pursue M&A in the next 12 months, a 27-percentage-point increase from September 2025.
- US CEO M&A intent (62%) outpaces global CEO intent (53%), indicating a divergence in regional economic outlooks.
- 85% of US CEOs have altered strategic investment plans in the past year, with 46% accelerating and 39% delaying investments.
- Nearly half (44%) of US CEOs cite accelerated AI adoption as the biggest positive factor for growth in 2026.
- 97% of US CEOs are currently undergoing or planning a significant enterprise-wide transformation initiative, prioritizing top-line growth.
The big picture
The EY-Parthenon survey reveals a significant shift in US CEO sentiment, moving away from a defensive posture towards a proactive growth strategy driven by M&A and enterprise-wide transformation. This divergence from global trends suggests a unique confidence in the US economy, coupled with a desire to leverage acquisitions to secure technology, talent, and scale. The emphasis on AI highlights a recognition of its transformative potential, but also underscores the challenges of implementation and risk mitigation.
What we're watching
- Deal Execution
- The surge in M&A intent may strain deal capacity, potentially leading to higher transaction costs and increased scrutiny from regulators given ongoing geopolitical tensions.
- AI Integration
- The ability of US CEOs to translate AI enthusiasm into tangible, commercially viable applications will be a key differentiator in achieving the promised growth acceleration.
- Investment Resilience
- Whether the accelerated investment plans can withstand further geopolitical shocks and potential economic slowdowns remains to be seen, particularly given the significant alterations already made.
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