AI startup M&A exits claimed to total nearly $200 billion in 18 months

An October 14, 2026, post claims AI startup exits through M&A totaled nearly $200 billion over the preceding 18 months, with a median startup age of four years. The author says the total excludes the $250 billion SpaceX–xAI merger and several non-AI acquisitions. They ask how large M&A returns, much of which they characterize as strategic and not tied to fundamentals, should affect venture investing and valuations.