ServiceNow shares climbed 12% in midday trading as investors rotated into software stocks following a wave of strong earnings and growing confidence in enterprise AI adoption. Executive Amit Zavery said customers now demand centralized systems to monitor AI usage, costs and operations alongside traditional software services.
ServiceNow shares surged roughly 12% in midday trading Friday as investors shifted back into high-growth software names following a string of upbeat quarterly results. The stock move marked one of the highest single-day percentage gains for ServiceNow this year.
At a major software conference, ServiceNow executive Amit Zavery highlighted that customers are no longer treating AI tools as standalone projects. He emphasized demand for unified platforms that track AI usage, cost and performance alongside existing IT services.
The rally extended beyond ServiceNow, with Snowflake gaining 4.5% after a prior 36% surge, Oracle up 8%, Microsoft rising nearly 4% ahead of its developer event, and Atlassian jumping 11%. This broad uptick underscores renewed investor confidence in enterprise AI adoption across the industry.
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