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legacy software firmsTechCrunch
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SAP ’s market cap has grown more than 50% in the past year alone.
The German -based software firm is now valued at $234 billion , up from $92 billion two years ago .
SAP 's rapid rise can partly be attributed to this transition from an old-school license model to the cloud.
Oracle is valued at more than $385 billion this week , 20% up on last year .
IBM has been investing heavily in AI as part of its push to stay relevant.
IBM Watson and more recently a slew of AI services to support AI demand in the enterprise.
IBM ’s recent financials have been something of a mixed bag, with Q1 2024 numbers showing a small revenue hike that missed analyst estimates and earnings that beat estimates.
Goldman Sachs this week gave IBM a “buy” rating off the back of its AI investments.
Gartner ’s famed “hype cycle” prophesizes that interest in new technology wanes as all the early experiments and implementations fail to deliver on their promise.
Traditional software markets have a combined annual revenue over $1 trillion in 2024 .
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