Global CEO confidence has surged to record levels following Donald Trump’s election victory, with 77 per cent of chief executives expecting economic improvement in early 2025, according to a new survey.
The study by CEO advisory firm Teneo, which surveyed more than 300 global CEOs and 380 institutional investors representing approximately $10 trillion in market value, revealed a remarkable shift in corporate sentiment despite looming concerns about trade tensions and policy disruption.
For the first time in the survey’s three-year history, a majority of large-company CEOs expect near-term economic improvement, with more than 80 per cent of both executives and investors anticipating a significant uptick in merger and acquisition activity in 2025.
“The operating environment has dramatically shifted over the past six months,” said Teneo Chairwoman Ursula Burns. “Looking ahead to the next six months, we are helping clients capitalise on this new wave of economic optimism while continuing to navigate key geopolitical, policy and social challenges.”
The survey found that 50 per cent of global CEOs are accelerating domestic and international investments based on the US election outcome, while 64 per cent believe that even potentially disruptive Trump administration policies on tariffs and regulations will positively impact their businesses.
China strategy defies political tensions
In a striking contradiction to rising political antagonism, CEOs have dramatically increased their strategic focus on China, with 47 per cent now viewing the country as critical to their corporate strategy – more than double the percentage from 2023.
The surge in China’s strategic importance comes despite expectations of increased anti-China protectionism under a second Trump administration. The percentage of CEOs planning significant engagement with China over the next decade has jumped from 18 per cent in 2023 to 56 per cent in 2025.
This strategic pivot appears driven by China’s growing influence in future-focused industries, including clean energy, electric vehicles and industrial robotics. However, companies are simultaneously preparing contingency plans, with many developing alternative supply chain options amid expectations of heightened trade tensions.
“Changes to monetary policy, data privacy, environmental regulations and China policies rank as the most significant risks,” the report noted, highlighting the complex balancing act facing global executives.
AI investment creates Wall Street tension
The survey also revealed a significant disconnect between large company CEOs and investors regarding artificial intelligence investment strategies, potentially setting up future market tensions.
While 80 per cent of large-cap CEOs are accelerating AI spending and willing to wait up to two years for returns, nearly 80 per cent of investors expect AI projects to deliver positive returns within the first year. This misalignment in expectations could create pressure on company valuations and executive decision-making.
“Mid-cap companies are taking a more diversified approach to technology investment, spreading bets across AI, robotics, quantum computing and cryptocurrency,” said Paul Keary, CEO of Teneo. “Meanwhile, the world’s largest companies are going all-in on AI.”
The research found that only 17 per cent of large-cap companies plan to increase quantum computing investments, compared to 48 per cent of mid-cap firms. The disparity is even more pronounced in cryptocurrency investments, with just 3 per cent of large companies planning increases versus 48 per cent of mid-cap businesses.
Investors are also pushing for greater board involvement in AI strategy and governance, potentially setting up governance tensions as AI investments accelerate.
The optimistic outlook comes despite significant geopolitical challenges, with more than 76 per cent of CEOs and 83 per cent of investors believing that recent global election outcomes will improve both economic conditions and global stability. However, executives are closely monitoring monetary policy changes, environmental regulations, and ongoing conflicts in Ukraine and the Middle East.
The survey, conducted between Nov. 11 and Dec. 3, captured sentiment in the immediate aftermath of the US presidential election, offering one of the first comprehensive looks at how global business leaders are positioning themselves for Trump’s return to office.
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