ServiceNow Shares Rise After CEO Says AI Can Add Value to Software

Dow Jones05:20

By Katherine Hamilton

ServiceNow shares rose after the company's chief executive said artificial intelligence is a positive, rather than a threat, for software companies.

The stock advanced nearly 6% during Thursday's trading session, closing at $120.38. Despite the intraday gains, shares are down more than 30% over the past 12 months.

During a Morgan Stanley investor conference, ServiceNow Chief Executive William McDermott said AI is making software companies' values higher, countering recent market doubts. His comments come after a stock sell off in February that at the time wiped billions of dollars of market capitalization from ServiceNow, Microsoft, AppLovin, Intuit and Salesforce.

"If you have a great system of record, AI is actually making your intrinsic value higher because the data that's in those systems is very important," he said.

ServiceNow, which automates digital workflows, also on Thursday announced a suite of new services for the public sector using AI.

The new products include EmployeeWorks, which combines conversational AI and search, and Autonomous Workforce, which provides AI specialists that can execute jobs.

Shares of other cloud companies including Mongodb, Okta and Wix also rose on Thursday. Okta and Wix both reported quarterly results on Wednesday that gave investors hope about the potential for AI to drive long-term growth.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 05, 2026 16:20 ET (21:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Despite the intraday gains, shares are down more than 30% over the past 12 months. \n\n\n  During a Morgan Stanley investor conference, ServiceNow Chief Executive William McDermott said AI is making software companies' values higher, countering recent market doubts. His comments come after a stock sell off in February that at the time wiped billions of dollars of market capitalization from ServiceNow, Microsoft, AppLovin, Intuit and Salesforce. \n\n\n  \"If you have a great system of record, AI is actually making your intrinsic value higher because the data that's in those systems is very important,\" he said. \n\n\n  ServiceNow, which automates digital workflows, also on Thursday announced a suite of new services for the public sector using AI. \n\n\n  The new products include EmployeeWorks, which combines conversational AI and search, and Autonomous Workforce, which provides AI specialists that can execute jobs. \n\n\n  Shares of other cloud companies including Mongodb, Okta and Wix also rose on Thursday. Okta and Wix both reported quarterly results on Wednesday that gave investors hope about the potential for AI to drive long-term growth. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 05, 2026 16:20 ET (21:20 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2617760905","isCrawlerRequest":true}