SAP bets $1.16B on 18monthold German AI lab and says yes to NemoClaw | TechCrunch

Image for article SAP bets $1.16B on 18monthold German AI lab and says yes to NemoClaw | TechCrunch
News Source : TechCrunch

News Summary

  • SAP has acquired German AI startup Prior Labs for an undisclosed amount.
  • SAP plans to invest €1 billion (approximately $1.16 billion) into the business over the next four years to grow it into an AI lab focused on structured data.
  • Prior Labs co-founded 18 months ago with a focus on tabular foundation models (TFMs) TFMs combine language, reasoning, and domain knowledge to combine data in the tables and databases where enterprise information typically sits.
  • For a giant incumbent player like SAP, AI is both a threat and an opportunity.
By OpenAI COOs own admission last February, we have not yet really seen AI penetrate enterprise business processes. But for enterprise software giant SAP, whose stock has dropped significantly in 2 [+4963 chars]

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