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☆ Combination of Nvidia's AI hardware and SAP's business data will create great partnership, SAP CEO says
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCombination of Nvidia's AI hardware and SAP's business data will create great partnership, SAP CEO saysSAP CEO Christian Klein discusses first-quarter results and explains how business AI is driving growth across the company.

Persons: Christian Klein Organizations: SAP

☆ Thousands of employees at tech giant SAP signed a petition saying they feel 'betrayed' by the company's 'radical' return-to-office U-turn
▼ + stars: | 2024-02-02 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +1 min

Employees at the German software giant SAP are revolting against its return to office policies. Thousands of staff signed an internal letter that said they were "betrayed" by the firm's "radical" pivot. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementGerman software giant SAP recently announced a return to office mandate, which has been met with backlash by thousands of employees, Bloomberg reported Wednesday . Over 5,000 SAP employees have signed a letter posted internally — and viewed by Bloomberg — criticizing the company's RTO policies and have threatened to quit as a result.

Persons: —, Bloomberg — Organizations: SAP, SAP's, Service, Bloomberg, Works Council, Business

☆ Investing in Space: NASA panel warns astronaut moon plan may be too ambitious
▼ + stars: | 2024-02-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

The Moon's surface seen from the Orion spacecraft on flight day 20 of the Artemis I mission. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. NASA's Artemis moon mission program regularly faces a wide swath of questions – from legislators, auditors, companies and even just the American public – about goals, timeline, cost and more. Call it an Artemis mission! If Orion flying uncrewed around the moon is an Artemis mission, then the first uncrewed HLS landing should be too, because it's arguably just as important to the goal of landing humans back on the moon.

Persons: Artemis, CNBC's Michael Sheetz, it's Organizations: Orion, Aerospace, NASA, Artemis Locations: –

☆ SAP shares surge to all-time high after results, plans to restructure 8,000 jobs in push to AI
▼ + stars: | 2024-01-24 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An employee works in an office at the SAP SE campus in Walldorf, Germany. Shares of German software company SAP jumped to an all-time high in early deals Wednesday after the company released its latest financial results and announced plans to restructure 8,000 jobs in a push toward artificial intelligence growth. SAP shares were trading up 7% by 8:30 a.m. London time. "SAP will further increase its focus on key strategic growth areas, in particular Business AI. It also intends to transform its operational setup to capture organizational synergies, AI-driven efficiencies and to prepare the company for highly scalable future revenue growth," the company said.

Organizations: SAP Locations: Walldorf, Germany, London

☆ Rise of AI sparks big changes at SAP affecting about 8,000 jobs
▼ + stars: | 2024-01-24 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewSAP will offer buyouts or different roles to about 8,000 workers in a restructuring plan related to the rapid rise of artificial intelligence. The new plan comes as SAP reported better-than-expected earnings, with revenue for its key cloud business expected to rise by about a quarter. SAP has been trying to incorporate AI solutions into its products, and has also invested about $1 billion in AI enterprise startups. It joins the slew of big tech companies, including Google and Microsoft, in making changes to their workforce following the rapid rise of AI.

Persons: —, Christian Klein Organizations: Service, Business, SAP, Staff, Google, Microsoft

☆ Stocks making the biggest moves premarket: Netflix, AT&T, Tesla, EBay, AMD and more
▼ + stars: | 2024-01-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Netflix — Netflix's stock price jumped 9.2% after topping analysts' revenue and subscriber growth expectations during the fourth quarter. ASML — Shares of the Dutch chip firm gained 6.8% after the company beat expectations on revenue and profit. Texas Instruments — Shares of the technology company fell more than 3% after it missed revenue estimates for the fourth quarter. The company reported $4.08 billion in revenue, below the $4.12 billion projected by analysts, according to LSEG. AT & T did, however, slightly beat revenue expectations for the fourth quarter and said it expects to deliver adjusted EPS growth in 2025.

Persons: SAP's, Dupont, Tesla, —, Jesse Pound, Lisa Kailai Han, Michelle Fox Theobald Organizations: Netflix, Texas, SAP, Dupont de Nemours, EBay, NewStreet Research, AMD

☆ SAP plans job changes or buyouts for 8,000 employees in restructuring plan
▼ + stars: | 2024-01-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

SAP CEO Christian Klein speaks at a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023. SAP said on Tuesday that it aims to carry out voluntary buyouts or enable job changes for 8,000 employees as part of a restructuring program for 2024. SAP said it now expects 10 billion euros ($10.85 billion) in 2025 adjusted operating profit. That was above the consensus of 8.33 billion euros among analysts polled by LSEG. WATCH: SAP CEO says 2024 will be year AI moves from discovery to execution

Persons: Christian Klein, Klein, Jennifer Morgan, Bill McDermott, LSEG Organizations: Economic, SAP, Nasdaq, Adobe, Microsoft, Oracle Locations: Davos, Switzerland, German

☆ SAP CTO Juergen Mueller on 2024: The worst thing for AI would be if only a few know how to use it
▼ + stars: | 2023-12-22 | by ( Josée Rose | ) www.businessinsider.com time to read: +6 min

Read previewWhen I first spoke to Juergen Mueller, SAP's chief technology officer, earlier this year, generative AI was the hot new thing. One issue with language models and generative AI is that it often has a cutoff point and lacks up-to-date knowledge. SAP has trained more than 50,000 of the company's 105,000 workers on what it sees as the opportunities that Gen AI brings. The worst thing is if only a few would know how and what to do with it and the majority wouldn't. This strong foundation of AI expertise has been enabling us to infuse generative AI capabilities across our solutions and deliver immediate value to customers.

Persons: —, Juergen Mueller, Mueller, ChatGPT, we've Organizations: Service, Business, SAP, Google, SAP Cloud Locations: Business

☆ SAP posts 16% jump in Q3 cloud business revenue
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The logo of SAP is seen on their offices in Reston, Virginia, U.S., May 12, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsOct 18 (Reuters) - Business software maker SAP's (SAPG.DE) cloud business revenue rose by 16% in the third quarter on the back of its application services and HANA software, the company said on Wednesday. For the full year, the company reaffirmed its cloud revenue outlook in the range of 14 billion-14.2 billion euros. "Our Q3 results demonstrate strong execution and the resilience of our business, including sustained cloud growth in spite of persisting macro headwinds," finance chief Dominik Asam said. U.S.-listed shares of the German software maker were up 2.9% after the bell.

Persons: Andrew Kelly, Dominik Asam, Kanjyik Ghosh, Shailesh Organizations: SAP, REUTERS, Thomson Locations: Reston , Virginia, U.S, Bengaluru

SAP Labs India Managing Director Sindhu Gangadharan hopes the Indian unit will scale up its share of global SAP patents to 50% from 25% currently, she said in an interview on the sidelines of an event in Bengaluru. SAP Labs India, which employs over 15,000 people, aims to embed generative AI across its products to cater better to the changing needs of its clients ranging from Thermax (THMX.NS) to Dabur India (DABU.NS). "Through AI, India can solidify its IT supremacy," Gangadharan had said in the event, earlier in the day. The comments come as SAP looks to "double down" on investments in India, its fastest growing region and home to 40% of its global Research and Development (R&D) activity. Gangadharan, while referring to the regulation of AI, said there should be a "great amount of responsibility barriers with flexibility to the end-user".

Persons: Arnd, Sindhu Gangadharan, Gangadharan, Sam Altman, Hritam Mukherjee, Navamya Ganesh, Dhanya Skariachan, Josie Kao Organizations: SAP, AG, REUTERS, Rights, Reuters, SAP Labs India, Research, Microsoft, Thomson Locations: Regensdorf, Switzerland, Bengaluru, India

☆ SAP's marketing team is running multiple generative AI experiments. Its top marketer tells Insider what she's learned so far.
▼ + stars: | 2023-07-17 | by ( Ryan Joe | ) www.businessinsider.com time to read: +3 min

She predicts generative AI will be a permanent part of her marketing strategy in four to six months. The art was created by generative AI and touched up by a human artist. SAP's marketing team also used generative AI for tasks that are less splashy, more internally-oriented, but just as important. In one exercise, SAP employees used generative AI to create a script for product demos, but the scripts occasionally referenced products that didn't actually exist. Part of this consideration includes figuring out whether to continue partnering with generative AI solution providers or build the tools internally.

Persons: she's, It's, Julia White, White Organizations: SAP Locations: New York, Atlanta, Los Angeles

☆ SAP CEO Christian Klein says there are more A.I. use cases coming down the pipeline
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSAP CEO Christian Klein says there are more A.I. use cases coming down the pipelineSAP CEO Christian Klein joins 'Closing Bell Overtime' to discuss the future of A.I., SAP's future plans for the technology, and the impact of A.I. on the labor market.

☆ SAP and Microsoft to deepen collaboration on generative AI in recruiting
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

May 15 (Reuters) - SAP (SAPG.DE) will deepen collaboration with Microsoft (MSFT.O) on joint generative AI projects in the field of personnel recruiting, the German software maker announced on Monday. SAP's SuccessFactors solutions will be integrated with Microsoft's 365 Copilot and Azure OpenAI Service to access language models and generate natural language, it added. "We're very excited about the opportunities generative AI unfolds for our industry and our customers," SAP's Chief Executive Christian Klein said. In late April, Klein said the firm would embed Microsoft-backed OpenAI's ChatGPT in its productsReporting by Andrey Sychev, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ SAP slightly lowers outlook after Qualtrics divestment
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Business software maker SAP (SAPG.DE) on Friday slightly lowered its outlook due to the divestment of its Qualtrics unit while reporting first-quarter revenue growth that beat expectations. SAP reported revenue growth of 10% in the first three months of 2023, to 7.44 billion euros ($8.15 billion), beating expectations of 7% in company-provided consensus. The tech giant now expects non-IFRS operating profit in the range of 8.6-8.9 billion euros, 200 million euros less than before. For cloud revenue, it now targets between 14 and 14.4 billion euros, down 1.3 billion euros from previous guidance. Additionally, the IFRS operating result was affected by restructuring costs associated with SAP's recent cost-cutting program.

The logo of German software group SAP is pictured at the headquarters of SAP (Schweiz) AG in Regensdorf, Switzerland January 22, 2021. Revenue from SAP's lucrative cloud business grew 24% year-on-year, broadly in line with consensus. For the year, SAP expects non-IFRS operating profit in the range of 8.6-8.9 billion euros, 200 million euros less than before. Cloud revenue forecast is seen down by 1.3 billion euros to between 14 and 14.4 billion euros. "Underlying guidance is essentially unchanged, although updated to reflect the disposal of Qualtrics," Jefferies analysts wrote in a client note.

☆ Silicon Valley Bank became the go-to bank for startups with a network of top-tier VCs. Underrepresented founders say that created barriers to access for them.
▼ + stars: | 2023-03-23 | by ( April Joyner | Ben Bergman | ) www.businessinsider.com time to read: +7 min

But some early-stage founders told Insider they had trouble getting access to SVB's services. SVB's reliance on VC networks made it less accessible to some underrepresented founders, they said. With its focus on venture-backed startups, Silicon Valley Bank provided loans and lines of credit to businesses that often wouldn't qualify for such services at a larger bank. But the earliest-stage companies — those without significant venture funding or a notable VC backer — were still sometimes shut out, founders told Insider. Jean-Charles and Alvarez-Bailey said they didn't believe bias or discrimination was at play in SVB's decisions — they simply didn't meet the bank's VC funding threshold.

☆ Microsoft, Salesforce and SAP are still some of the best places to work in the world even after layoffs, according to Glassdoor
▼ + stars: | 2023-03-22 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Despite months of wide-sweeping job cuts across Silicon Valley, tech companies are still some of the best places to work in the world, according to recent research from Glassdoor. This year, only three companies appear in the top 25 for each of the five countries: Microsoft, SAP and Salesforce. Yet the employee reviews on Microsoft, SAP and Salesforce's Glassdoor pages remain overwhelmingly positive, even after the recent layoff announcements. Six months ago, pre-layoffs, Microsoft had an overall rating of 4.4 out of 5 stars, while SAP and Salesforce had overall ratings of 4.4 each. Check out:The 10 best U.S. places to work in 2023, according to GlassdoorI was VP at Google for 10 years.

☆ SAP agrees to sell Qualtrics stake for $7.7 bln
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

BERLIN, March 13 (Reuters) - Software group SAP (SAPG.DE) said on Monday it had agreed to sell its stake in data analytics firm Qualtrics (XM.O) for $7.7 billion as part of the acquisition of Qualtrics by funds affiliated with financial investor Silver Lake. "At a purchase price of US$18.15 in cash per share, the transaction corresponds to a Qualtrics equity value of approximately US$12.5 billion on a fully diluted basis," SAP said in a statement. "SAP's stake will be acquired for approximately US$7.7 billion," it added. Writing by Paul Carrel; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Do not underestimate how important humans are, even as we automate, the chief technology officer of SAP says
▼ + stars: | 2023-03-10 | by ( Josée Rose | ) www.businessinsider.com time to read: +9 min

Automation, generative artificial intelligence like ChatGPT and Bard, and machine learning are pushing business leaders like never before. They deployed this app, built on SAP Business Technology Platform, and said it saves 400,000 hours per year. Maybe it's a bike company: You're interested more in road bikes or fun bikes. You talked about providing and embedding AI and machine learning and giving customers ways to solve problems in a scalable, ethical way. When machine learning arrived, first that automates a lot of capabilities, but now you have completely new jobs.

☆ SAP introduces SAP Datasphere and partnerships with Collibra, Confluent, DataRobot, and Databricks to simplify customers' data landscape
▼ + stars: | 2023-03-09 | by ( Sponsor Post | Created Sap With Insider Studios | ) www.businessinsider.com time to read: +6 min

SAP announced SAP Datasphere, the next generation of its data management portfolio, which gives customers easy access to business-ready data across the data landscape. SAP DatasphereAvailable today, SAP Datasphere is the next generation of SAP Data Warehouse Cloud. With a unified experience for data integration, data cataloging, semantic modeling, data warehousing, data federation, and data virtualization, SAP Datasphere enables data professionals to easily distribute mission-critical business data — with business context and logic preserved — across their organization's data landscape. SAP Datasphere is built on SAP Business Technology Platform (BTP), which includes strong enterprise security capabilities such as database security, encryption, and governance. Databricks customers can integrate their Data Lakehouse with SAP so data can be shared with semantics preserved, helping customers simplify their data landscape.

"His deep understanding of our customers' needs, and the broader industry make him an ideal candidate for Chairman of the Supervisory Board from 2024 onwards," Plattner added. Plattner, who co-founded SAP in 1972 alongside four other former IBM employees, stepped down from active management in May 2003 to head the supervisory board after serving as SAP's CEO since 1997. He owns a 6.16% stake in SAP which is currently worth 8.23 billion euros ($8.73 billion), and said he would remain committed to the company as an "investor with an unchanged stake". SAP, in a separate statement, said it would propose a dividend of 2.05 euros per share for 2022. The company paid 2.45 euros a share for the previous year, which included a 0.50 euros apiece special dividend.

☆ SAP names ex Deloitte CEO as designated chairman to succeed co-founder Plattner
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

BERLIN/FRANKFURT, Feb 22 (Reuters) - SAP (SAPG.DE) on Wednesday named former Deloitte global CEO Punit Renjen as designated chairman to succeed co-founder Hasso Plattner, whose term will expire in May 2024. SAP's board nominated Renjen, global CEO of Deloitte from 2015 until the end of 2022, to stand for election as a new member of the supervisory the board, the statement said. Reporting by Victoria Waldersee in Berlin and Hakan Ersen in Frankfurt; Editing by Christoph SteitzOur Standards: The Thomson Reuters Trust Principles.

In Germany, where SAP is headquartered, the company will cut slightly more than 200 jobs. SAP has also started the process to sell its stake in Qualtrics (XM.O). REUTERS/Arnd Wiegmann/File Photo 1 2Currently, survey-software seller Qualtrics has a market value of $7 billion and SAP has a 71% stake. SAP forecast core operating profit of 8.8-8.9 billion euros at constant currencies for this year. It also expects cloud revenue at constant currencies for 2023 to rise to 15.3-15.7 billion euros, from 12.56 billion euros last year.

☆ SAP to cut 3,000 roles, explore sale of Qualtrics stake
▼ + stars: | 2023-01-26 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

German enterprise software firm SAP said Thursday that it will be cutting up to 3,000 jobs, or about 2.5% of its workforce, becoming the latest tech giant to announce significant layoffs. "We are further focusing our portfolio in areas where we are strongest to continue our accelerated growth," said Christian Klein, CEO of SAP, during the company's fourth-quarter 2022 earnings call. SAP shares were trading over 2% lower at 8:05 a.m. London time following the announcement. It comes after the company reported positive fourth-quarter results during the call. "We in the tech sector, we at SAP, we are very confident about the year ahead," Klein said at the time.

☆ SAP to cut 3,000 jobs in efficiency move, explores Qualtrics stake sale
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 26 (Reuters) - SAP (SAPG.DE) on Thursday said it plans to cut 3,000 jobs, or 2.5% of its global staff, and to explore a sale of its remaining stake in Qualtrics to focus on strategic growth areas and operate more efficiently. With the planned job cuts, SAP joins other big tech companies including Microsoft and Amazon in turning to layoffs to cut costs. SAP reported a 30% revenue increase in its cloud business in the fourth quarter, helped by strong demand for its HANA software. Analysts are worried that the lucrative cloud segment for big tech companies could be hit hard as customers look to cut spending. SAP's operating profit grew 17% in the three months through December to 1.71 billion euros ($1.87 billion) on group revenue of 8.44 billion euros, it said.

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