Cloud Revenue
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Europe’s AI Champion SAP Secures 85% of 2026 Revenue Amid Deal Surge
SAP is making a big push in enterprise AI, CEO Christian Klein cites AI as key to customer deals. Q3 cloud backlog surged 23% to €18.8B, showing demand for AI-infused cloud services. While Q3 revenue rose 7% to €9.08B, it slightly missed estimates. Deutsche Bank maintains a positive outlook, but SAP is guiding towards the lower end of its cloud revenue forecast. Klein emphasizes focusing on practical AI applications and value creation, stressing the importance of real-world adoption. SAP aims to transform into an AI-first entity.
