SAP’s cloud is still booming, and that was enough to calm the AI-doom fears

SAP reported a 22% increase in cloud revenue for Q2, surpassing expectations and boosting investor confidence despite a 35% stock decline this year amid AI-related concerns. The company lowered its 2026 profit forecast due to costs from recent acquisitions and is investing heavily in AI development while transitioning customers to cloud services. However, skepticism remains about the effectiveness of SAP's AI offerings and their potential to drive future growth.