Software giant SAP becomes Europe's most valuable firm amid German stock market boom

Core Insights - SAP has become Europe's most valuable company with a market capitalization of approximately $342.4 billion, driven by enthusiasm for artificial intelligence and gains in the German stock market [1] - The company reported a significant increase in cloud revenue, up 25% year-on-year in 2024, indicating strong growth potential [3] Group 1: Company Performance - SAP's shares increased by 1.16% on a recent trading day and have risen over 40% in the past year [1] - The company's cloud backlog reached €63.3 billion ($ 68.5 billion) in 2024, marking a record for the company [4] Group 2: Market Position and Strategy - Analysts from Bank of America have identified SAP as their top large-cap software pick for 2025, citing potential for further upside driven by AI and ongoing cloud migration [3] - SAP is leveraging its extensive customer base and rich business data to create new opportunities in AI, which is expected to enhance revenue generation [2][4]