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SAP SE (NYSE:SAP) is one of the AI stocks on Wall Street's radar. On July 2, Bloomberg reported SAP SE (NYSE:SAP) plans to cut back on hiring and travel as it seeks to save costs. The push is part of an effort to redirect resources toward developing artificial intelligence technologies and to fend off new competitors.

Chief Executive Officer Christian Klein is increasingly reorganizing the company around AI while taking personal oversight of its management. Consequently, SAP SE plans to focus new hiring solely on core artificial intelligence roles that are crucial to the company's long-term success. The company is to pause all internal travel unrelated to AI development as it also pursues new ways to cut spending with suppliers.

SAP SE (NYSE:SAP) is making significant investments in products and AI capabilities in response to artificial intelligence reshaping the industry's future. The company is also eyeing strategic acquisitions in data and AI to further strengthen its position. The company was allegedly in talks to acquire industrial AI and data company Cognite.

SAP SE (NYSE:SAP) provides enterprise application and business solutions.

While we acknowledge the potential of SAP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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