SAP, Aqarios Quantum Technologies, Infineon: The battle for the next "computing revolution"

SAP reported record Q3 revenue of $11.5B, with cloud revenue up 26% YoY to $7.5B. Management expects full-year cloud revenue at the top of its guided range. Kinzey Capital Management notes the guidance shift as a positive signal for investor demand.

SAP is replacing some AI models with cheaper alternatives, aiming for €2B in efficiency gains over two years, according to Reuters.

SAP is replacing expensive AI models with cheaper alternatives, expecting over €2 billion in efficiency gains over two years. CFO Dominik Asam stated the company is prioritizing cost-effective models without compromising performance. SAP uses models from OpenAI, Anthropic, and Google, aiming to maintain profitability as AI usage grows. The company charges customers for completed tasks, not computing resources, which could enhance profitability.

SAP is replacing some expensive AI models with cheaper alternatives, aiming for over €2 billion in efficiency gains over two years. CFO Dominik Asam noted the company prioritizes cost-effective models while expecting overall AI spending to increase. SAP charges customers for tasks, not computing resources, potentially improving profitability. Customer demand for locally sourced AI models is also growing, especially in Europe.

SAP SE (SAP) furnished an SEC Form 6-K — earnings release. Exhibit 99.1 Quarterly Statement Q3 2026 Current cloud backlog of €24.1 billion, up 28% and up 26% at constant currencies Cloud revenue up 26% and up 25% at constant currencies Cloud ERP Suite revenue up 29% and up 28% at constant currencies Total revenue up 13% and up 12% at con

SAP SE (SAP) reported Q3 2026 revenue of €10.3B, cloud revenue of €6.67B, and cloud backlog of €24.1B, driven by AI, acquisitions, and cloud ERP growth. The company raised guidance, announced a €10B buyback, and repurchased €4.2B of shares. Analysts raised price targets, but management cautioned about macroeconomic risks.