SAP Secures Antitrust Clearance for Two AI Deals, but Market Turmoil Overwhelms the News
Published on 07/08/2026 at 19:57 | Redaktion boerse-global.de
The German software giant picked up two regulatory wins this week, yet the stock headed south as geopolitical jitters rattled global markets. SAP’s acquisition of US data-analytics specialist Dremio and Freiburg-based Prior Labs GmbH both received the green light from the Federal Cartel Office, with president Andreas Mundt stating there were no competition concerns. The deals crossed the €400 million transaction-value threshold that triggers mandatory review.
Dremio, founded in 2015, brings SAP closer to modern data-lakehouse architectures, allowing analytics to run directly on large cloud storage systems. Prior Labs, a much younger outfit launched in 2024, develops so-called tabular foundation models that underpin specialised AI analysis and agentic applications. Both purchases fit squarely into SAP’s strategic pivot toward AI-powered cloud solutions. Even partners are joining the push: SNP SE unveiled new collaborations at the “Transformation World” conference in Heidelberg on Wednesday, promising to accelerate customer migrations to the cloud using AI layers.
Yet the positive news failed to stem the bleeding. SAP shares fell 3.49% on Wednesday to €138.18, leaving the stock down 31.59% since the start of the year and 47.44% below its level twelve months ago. The trigger came from outside the company: a ceasefire in the Middle East was declared over, the US launched strikes in the region, and the DAX briefly slumped more than 2.5%. Rising oil prices fuelled fresh inflation fears, hitting rate-sensitive technology stocks particularly hard.
Should investors sell immediately? Or is it worth buying SAP?
From the 52-week high of €266.00 reached last July, the stock now trades nearly 48% lower. It sits just 5.64% above its 52-week trough of €130.80, set on June 25. Technical indicators paint a divided picture: the relative strength index at 45.4 sits in neutral territory, but the price is roughly 23% below its 200-day moving average of €179.66, and the 50-day average of €145.99 also remains well above the current level. This suggests short-term trading has decoupled from the longer-term trend.
In response to the pressure, management has tightened its belt. Non-essential business travel is to be eliminated immediately, and new hires will be approved almost exclusively for AI-related roles. The message is clear: SAP needs ample capital for its technology overhaul. The acquisition of Dremio was completed on July 6, earlier than the market had anticipated, and the company is now weaving agentic AI capabilities into its offering, allowing customers to link data from disparate systems in real time.
All eyes now turn to the second-quarter earnings report due on July 23. Analysts forecast revenue of €9.85 billion, a roughly 9% increase year on year, and earnings per share of €1.76, up from €1.46 in the prior-year quarter. The numbers will provide the first concrete evidence of whether the cost discipline and aggressive AI acquisitions are starting to stabilise margins and accelerate cloud growth—separate from the geopolitical noise that has dominated trading of late.
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SAP Stock: New Analysis - 8 July
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