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Software Maker SAP Becomes Europe's Largest Company
An anonymous reader quotes a report from Reuters: German software company SAP overtook Danish healthcare company Novo Nordisk as Europe's largest company by market capitalization on Monday. At 0900 GMT, SAP had a market cap of $340 billion, slightly more than Novo Nordisk, according to Reuters calcu...
At 0900 GMT, SAP had a market cap of $340 billion, slightly more than Novo Nordisk, according to Reuters calculations using LSEG Workspace data. Its shares have surged in recent years, in part due to optimism that its cloud business will be a major beneficiary of recent investment in generative artificial intelligence. In contrast, Novo Nordisk shares have underperformed the market in recent months after data from trials of its experimental next-generation obesity drug Cagrisema disappointed investors.
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