Driven by AI, cloud revenue grew well in the first quarter, with Europe's largest software company SAP's financial report meeting expectations
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SAP, the largest software company in Europe, announced its first-quarter financial report, showing a 25% year-on-year growth in cloud computing revenue to 3.9 billion euros, in line with expectations. SAP stated that the backlog of cloud computing orders increased by 28% to 14.2 billion euros, setting a record for the fastest growth in history. The company's CEO stated that looking ahead, SAP has strong growth momentum in business AI and cloud services. In addition, SAP is integrating artificial intelligence tools into its products and has invested in several startups. As for the stock price, SAP's US stocks rose by 1.4%
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