How SAP SE (SAP) Is Monetizing AI Through Joule and Data Cloud

Aoris Investment Management, a global equity manager, highlighted SAP SE (NYSE:SAP) in its Q2 2026 investor letter. SAP, a leading enterprise resource planning (ERP) software provider headquartered in Walldorf, Germany, closed at $218.68 per share on August 21, 2026, with a market capitalization of $256.39 billion. The company's ERP systems manage core business processes, including finance, human resources, manufacturing, supply chain management, and customer relationship management.

Notably, 99 of the world's 100 largest organizations utilize SAP's solutions, with 80% of all global transactions passing through an SAP system. Aoris Investment Management explained that AI presents opportunities for SAP to provide additional services, potentially adding 20% or more to customers' spending. These services include SAP Business Data Cloud, which integrates SAP and non-SAP data for real-time analysis, and Joule AI agent, an automated system that understands existing data structures and processes.