1035 GMT - German business-software group SAP has to make significant investments to remain competitive as artificial intelligence disrupts the industry, J.P.Morgan analysts write in a note to clients. SAP said that hiring, external spending, and internal travel would be subject to greater discipline, but customer-facing activities and critical AI initiatives would go on as normal. "While restricting hiring and travel incrementally may give SAP some more room to make investments, the question is whether it will give the company enough room to make the necessary investments to remain competitive and deliver the level of margin expansion built into the consensus," the analysts say. SAP shares trade 0.5% lower at 140.22 euros. (mauro.orru@wsj.com)

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July 02, 2026 06:36 ET (10:36 GMT)

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