SAP Stock: OpenAI Delay & Celonis Lawsuit Impact

SAP shares saw a nearly 4% rally, breaking a recent slide. This boost came after reports that OpenAI is delaying its IPO until 2027 due to financial struggles. This news eased concerns that AI would displace traditional enterprise software companies like SAP. However, a federal judge allowed Celonis to expand an antitrust lawsuit against SAP, adding claims of trade-secret theft. Celonis alleges SAP restricts customer data access to favor its own software. The court rejected most of SAP’s dismissal motion, and a trial is set for December 7, 2026. SAP plans to defend itself. Despite these legal issues, SAP's cloud revenue climbed 27% to almost €6 billion in the first quarter, with the cloud backlog growing 20% to €21.9 billion. Full-year cloud revenue guidance remains unchanged. SAP also announced two acquisitions in May: Dremio and Prior Labs. Goldman Sachs trimmed its estimate for SAP’s second-half gross margin to 72.8%. Also, a warning from Accenture about slower IT spending has analysts watching for effects on SAP. The European Commission is reviewing concessions from SAP regarding vendor choice and fees. The company's €10 billion share-buyback program has repurchased shares at an average price of €161.16, which is above the current €136.16 level. This information helps investors understand the current landscape for SAP.