SAP SE (XETR:SAP) won EU antitrust clearance after offering decade-long concessions to ease on-premise switching, while Citi sees a slightly stronger Q2 with rising cloud backlog and intact 2026 guidance; SAP also frames AI as infrastructure, embedding sustainability and ROI into its deployment plans.

Previous Week Recap

  • EU Approves SAP Concessions: EU antitrust OKs SAP concessions: 10-year global commitments include alternate license fee calc, no reinstatement fees, and cut back-maintenance fees to ease on‑premise switching.
  • Citi Sees SAP Q2 Upgrade: Citi sees SAP (SAP) posting a slightly stronger Q2: cloud backlog up ~25%, operating profit marginally above estimates, and management keeping its 2026 outlook intact.
  • SAP Frames AI As Infrastructure: SAP says it treats AI as infrastructure, embedding sustainability into AI decisions, ROI, long-term planning, supply‑chain impact and material input assessments to guide responsible AI deployment.

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