The 100-Year Life Health Education and Government
SAP briefly overtook Novo Nordisk as Europe’s most valuable company this week, after its market capitalisation rose to €313 billion.
The German multinational’s surge reflects broader momentum as Germany’s stagnant economy – buoyed by incoming Chancellor Friedrich Merz’s spending plans – shows signs of revival.
The DAX outpaced all major indices bar the S&P 500 last year, with SAP accounting for two-fifths of these gains.
Driven by revenue from cloud computing and growing enthusiasm for artificial intelligence, the German tech company has seen its share value increase by more than 40 per cent in the past year.
SAP’s rise also reflects waning confidence in Novo Nordisk.
The Danish pharmaceutical giant has struggled to reassure investors after disappointing developments in its new anti-obesity drug.
However, this week it announced a licensing agreement worth a potential $2 billion with China’s The United Laboratories, aiming for the next breakthrough in anti-obesity drugs.
