SAP faces steep share decline as it bets on Autonomous Enterprise AI

SAP’s shares have fallen about 43 % over the past twelve months, trading near €148 and hovering just above the 52‑week low. The slump follows investor scepticism after the company issued a critical security patch day for products such as NetWeaver and Commerce Cloud, underscoring concerns that the firm’s AI‑driven ambitions must be built on a trustworthy, secure core.

At the same time SAP is promoting an "Autonomous Enterprise" vision that replaces AI assistants with autonomous agents. The rollout includes the Joule Work platform, open‑to‑external agents via A2A and MCP, a new Joule Studio development environment, and the SAP Business Data Cloud powered by the SAP Knowledge Graph and HANA Cloud. These components are intended to let businesses describe goals in natural language and have coordinated agent teams execute end‑to‑end processes across SAP and non‑SAP systems. SAP also announced deeper integration with Anthropic’s Claude model and optional use of other foundation models, emphasizing governance and data sovereignty.

The dual narrative reflects SAP’s attempt to restore investor confidence by highlighting both the need for robust security and a strategic shift toward AI‑enabled autonomous operations.