European tech stocks defy the trend as "old money" unexpectedly emerges as AI winners in the earnings season.

The Zhitong Financial APP has learned that the wave of AI was initially widely viewed as a new opportunity for model developers, but recent financial reports reveal that a number of large, established tech groups in Europe are rising against the tide, becoming the actual beneficiaries of the AI boom. From SAP (SAP.US), Capgemini, Sopra Steria to OVHcloud, many European tech giants have reported stronger demand, accelerated growth, or raised performance guidance. The common driving force behind this is that companies are transitioning from the AI experimentation phase to comprehensive deployment phase.