SAP Surges as Salesforce Results Revive Software Sector Confidence

SAP, Europe's enterprise-software powerhouse, saw its stock surge by approximately 4.8% to $221.93 on Thursday after Salesforce's strong results boosted confidence in the software sector.

The market's message was clear: generative AI may strengthen established platforms instead of replacing them.

SAP entered this rally with a significant cloud backlog of €22.93 billion and reported a 24% increase in second-quarter cloud revenue at constant currencies to €6.28 billion, while the backlog expanded by 26%.

The company maintained its 2026 cloud-revenue target of $25.8 billion to $26.2 billion despite lowering its profit outlook due to acquisitions.