ServiceNow Climbs 5% as Software Sidesteps AI Selloff; Adobe Gains 4%, Salesforce Ticks Up

Microsoft, Amazon, and Salesforce are investing heavily in AI. Microsoft spent $116B in capex, Amazon has a $496B AWS backlog, and Salesforce's Agentforce ARR surged 240% to $1.5B. Microsoft's Azure revenue hit $100B, while Amazon's AWS grew 37%. Salesforce's capex was $171M, focusing on AI monetization. Investors should watch FY27 capex updates and cloud growth reports.

Salesforce (CRM) reported $1.5B in Agentforce annual recurring revenue, with shares up 2% to $252.73. The company will present at Dreamforce, with 43,000 attendees expected. Agentforce ARR now includes Slackbot and Headless 360, and the company reported a 97% increase in Agentic Work Units. CRM shares are 26.23% below the GF Value estimate.

ServiceNow (NOW) stock rose 6.66% to $141.36 after Adaptiva joined its Build Partner Program, integrating with ServiceNow's CMDB. The integration enhances endpoint management. NOW's 52-week range is $81.24-$194.73.

AI stocks fell Monday after industry leaders called for a slowdown in development due to safety concerns. Nvidia dropped 3.5%, and Softbank lost 10.7% in Tokyo. The Nasdaq fell 0.9%, while the S&P 500 and Dow Jones also declined. Oil prices rose, pushing the 10-year Treasury yield to 5%.

Salesforce shares rose 2.61% to $254.19. The company's Dreamforce event and investor session will test its AI growth case. Current remaining performance obligation (cRPO) grew 14% to $33.5 billion. Revenue grew 11% to $11.3 billion, including $456 million from Informatica. The company aims for $46.1B-$46.4B in full-year revenue and 14% cRPO growth in Q3.

AI stocks fell globally after industry leaders called for a slowdown due to safety concerns. Nvidia dropped 3.5%, while SpaceX and Softbank also declined. Oil prices rose, pushing the 10-year Treasury yield to 5%. The S&P 500 and Nasdaq fell 0.6% and 0.9%, respectively. Some software and oil stocks gained.