SAP, and Oracle, and IBM, oh my! ‘Cloud and AI’ drive legacy software firms to record valuations

June 29, 2024: Legacy Giants Hit Record Highs with Cloud, AI - As of June 29, 2024, legacy software companies such as SAP, Oracle, and IBM have reached unprecedented market valuations, primarily driven by their strategic pivots to cloud computing and artificial intelligence innovations. These former software titans have successfully repositioned themselves within the rapidly evolving tech landscape, leveraging their expertise in cloud services and AI to meet the modern demands of businesses and consumers alike, hence achieving record-breaking financial performance.