This study provides a review of literature on the role of Artificial intelligence (AI) in circular business models (CBMs), examining the intellectual structure and outlining prominent research themes. The study utilizes abstracts of 380 Scopus indexed documents published between 2016-2024. Significance of research in AI based circular business model were evaluated using a variety of bibliometric measures, such as publication trends, authorship patterns, journals, and the prominence of academic institutions. In addition, a structural topic modelling (STM) approach was used to extract and examine the literature's overarching themes. STM reveals following eight themes: Sustainable product based CBMs, Resource utilization for AI led CBMs, Integration of digital technologies with AI led CBMs, Consumer behavior for AI led CBMs, AI led CBMs for innovations, Performance of AI driven CBMs, Enablers and barriers of AI led CBMs, and Environmental and social impacts of AI led CBMs. The findings could assist scholars, practitioners, and policymakers to gain insights into current state of circular business models and suggests possible directions for future research.