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SAP shares fall after UBS downgrade over AI monetization concerns

SAP logoSAP
Sig1.65Sen-3.20Env0.00Soc0.00Gov0.00
UBS logoUBS
Sig2.35Sen-3.50Env0.00Soc0.00Gov0.00

SAP shares fell after UBS downgraded the stock, citing concerns about AI monetization. UBS expects cloud backlog growth to decelerate in the second half toward management’s guided ~23% constant-currency pace, down from Q2’s 26% (24.6% organic), and said the slowdown may pressure shares without clearer AI traction.

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