SAN FRANCISCO, Calif. — SAP (SAP) CEO Christian Klein is aiming to push back on the Wall Street narrative that it's well behind the curve in the AI-driven software push.
"The breakthrough is definitely now our new platform, which is now becoming generally available in the fall," SAP CEO Christian Klein told Yahoo Finance from the Goldman Sachs Communacopia & Tech Conference (video above). "On this platform, you can build any agent you want with any LLM. Then you have a very rich context layer … so that is really a breakthrough moment. And we have already a lot of customers testing the new platform."
The software company's second quarter sales rose 9% from the prior year to 9.88 billion euros ($10.8 billion). Cloud sales rose 22%. Earnings came in ahead of analyst estimates.
Despite the top- and bottom-line outperformance and a 27% increase in cloud backlog, management modestly trimmed its full-year 2026 main operating profit guidance to adjust for several acquisitions.
The guidance trimming did little to alleviate concerns about SAP's future. With new enterprise software vendors emerging and others moving quickly to evolve for the AI era, investors have taken a cautious stance on SAP.