On May 29, SAP SE rose 3.1% in regular trading, trading at $181.015/share, with trading volume of approximately $215 million. The stock continued its upward momentum amid broad strength in the application software sector.

On the news front, SAP, in partnership with Deutsche Telekom subsidiary T-Systems, won a €250 million (approximately $270 million) German federal government national AI cloud project. The contract is a cornerstone of Germany's Deutschland-Stack strategy, aimed at building a sovereign, domestically controlled government AI cloud platform called Kipitz. The project prioritizes data sovereignty and security compliance, with foreign technology companies excluded from the final selection.

The contract win reinforces SAP's strategic positioning at the intersection of enterprise software and AI infrastructure, particularly as European governments increasingly favor locally controlled technology solutions. Within the Application Software sector, Palantir Technologies surged 9.8%, Salesforce rose 8.03%, and Intuit gained 3.83%, reflecting broad sector strength in AI-related enterprise software names.

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