ServiceNow Shares Climb 4.2% to $113.18 After Nvidia AI Endorsement
ServiceNow shares jumped 4.2% to $113.18 after sector-wide selling spurred dip buying and short-covering following Nvidia CEO’s endorsement of enterprise AI. The stock has rallied 8.7% over the past week, rebounding from a 41% year-to-date slide and trading 45.8% below its July 2025 52-week high.
1. Intraday Dip-Buying Rally
ServiceNow shares surged 4.2% to $113.18 as investors seized on a sector-wide pullback to buy the dip, prompting short-covering that amplified the move. The rebound underscores heightened demand for software stocks positioned as ‘AI winners’ after recent market volatility.
2. Nvidia CEO’s AI Endorsement
Nvidia CEO Jensen Huang publicly dismissed fears that AI would cannibalize enterprise software, emphasizing a symbiotic relationship between AI and platforms like ServiceNow. His comments reinvigorated buyers who view the company as well-positioned to deploy fine-tuned AI agents using its workflow tools.
3. Weekly Rebound and YTD Performance
Over the past week, ServiceNow has climbed 8.7%, snapping a 41% year-to-date decline. At $113.18, shares remain 45.8% below the $208.94 peak reached in July 2025, reflecting ongoing investor caution despite recent optimism.