Europe’s enterprise AI market sees SAP emerge as a major player, with CEO Christian Klein highlighting AI as the key driver in customer deals. SAP’s cloud backlog jumps 23% to 18.8 billion euros in Q3, with revenue rising 7% to 9.08 billion euros. Despite positive outlook, SAP guides towards lower end of cloud revenue forecast for this year. Deutsche Bank remains optimistic, calling SAP a top pick in the tech sector.

SAP briefly becomes Europe’s most valuable company in March, amid German stock market gains. CEO Klein questions EU’s AI legislative approach, favoring US model of testing and refining AI over time. Emphasis on creating value for customers aligns with global sentiment. SAP bets on AI adoption for future share price growth, eyes China’s AI development speed and talent pool. Company offers cloud solutions and analytics post large restructure in 2024, focusing on AI services for finance and supply chain management.

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