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Steady10 stories4 sourcesLast updated: 6/10/2026

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ServiceNow CEO: AI is a structural solution for labor shortages, not just efficiency
Developing
Tech·6/1/2026AI summary

ServiceNow CEO: AI is a structural solution for labor shortages, not just efficiency

ServiceNow CEO Bill McDermott argues AI is a structural solution for labor shortages, not just an efficiency tool. He highlighted the "AI Control Tower" vision and acquisitions like MoveWorks to manage agents, emphasizing ServiceNow's role in executing actions while AI thinks. McDermott also expressed confidence in ServiceNow's competitive edge in ITSM, CRM, and security, projecting significant growth.

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ITmedia
Software Stocks Plummet as ServiceNow, IBM Results Spark AI Disruption Fears
Developing
Business·4/23/2026AI summary

Software Stocks Plummet as ServiceNow, IBM Results Spark AI Disruption Fears

Software stocks tumbled Thursday as ServiceNow sank 17% (its worst day ever) and IBM dropped 9%, fueling concerns that AI tools from Anthropic and OpenAI will disrupt the cloud subscription model. Workday fell 10% and is down over 45% this year, while the iShares Expanded Tech-Software ETF fell 5% and is down 18% annually. Big tech giants Alphabet, Amazon, Meta, and Microsoft report Wednesday, with Apple following Thursday.

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CNBC
CNBC Club: Market Rotates to Hardware After ServiceNow Plunge; Arm Rallies 6%
NEWS
4/23/2026AI summary

CNBC Club: Market Rotates to Hardware After ServiceNow Plunge; Arm Rallies 6%

Stocks were little changed as the S&P 500 and Nasdaq resumed their upswing to record highs. Jim Cramer discussed the rotation from software to hardware following ServiceNow's 17% post-earnings plunge, which cited Iran war as a drag on subscription revenue. Newest Club pick Arm jumped roughly 6% to new all-time highs, up 20% since initiation three days ago, though Cramer expressed concern about CEO Rene Haas' expanded role at SoftBank. Procter & Gamble rose over 1% ahead of Friday earnings.

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CNBC
ServiceNow CEO McDermott dismisses Iran war impact as 'timing issue'
Developing
Business·4/23/2026AI summary

ServiceNow CEO McDermott dismisses Iran war impact as 'timing issue'

ServiceNow CEO Bill McDermott told CNBC the Middle East delays tied to the Iran war are a timing issue, not demand deterioration. The software company's Q1 subscription revenue grew 19% constant currency despite a 75 basis point headwind from delayed Middle East deals. Shares fell 13% after hours though results beat Wall Street expectations. McDermott also pushed back on AI disruption concerns, calling it a 'tailwind' for the company.

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CNBC
ServiceNow Q1 Beats Estimates, Raises FY2026 Guidance on AI Demand
NEWS
4/22/2026AI summary

ServiceNow Q1 Beats Estimates, Raises FY2026 Guidance on AI Demand

ServiceNow reported Q1 adjusted EPS of 97 cents, beating the 96-cent estimate, with revenue of $3.77 billion versus $3.74 billion expected. The company raised its FY2026 subscription revenue guidance to $15.74-$15.78 billion, citing strong AI product demand despite a 75 basis point headwind from the Middle East conflict. Net income rose to $469 million, and the company completed its $7.75 billion Armis acquisition.

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CNBC