To The Moon

Since June 2026, I've been steadily building my position in ServiceNow ($NOW), especially during the significant pullback that created a much more attractive entry point. Instead of trying to catch the exact bottom, I chose to use a DCA strategy — adding progressively as the stock weakness gave me opportunities. This approach has helped me manage volatility while keeping my focus on the long-term business rather than short-term price movements. Today, I'm almost 80% done with my planned position, and I'm already sitting on roughly 25% paper gain. Honestly, I'm quite happy with how this trade has developed so far.

What gives me confidence is that the pullback did not fundamentally change my long-term thesis. ServiceNow continues to grow at a very impressive rate for a company of its scale. In Q2 2026, subscription revenue reached US$3.88 billion, up 24.5% YoY, while total revenue grew 24%. Even more importantly, current remaining performance obligations reached US$13.2 billion, up 21%, providing strong visibility into future revenue. ServiceNow also said its AI business crossed US$1 billion in annual contract value during the quarter.

The biggest reason I'm bullish for the long run is the company's positioning at the intersection of enterprise software + workflow automation + AI. I don't view ServiceNow simply as another software company trying to add an AI chatbot. Its advantage is that enterprises already use the platform to manage IT, employees, customer service, security and other critical workflows. As AI agents become more capable, the real value may come from giving those agents the ability to actually execute tasks across enterprise systems. ServiceNow is positioning its platform exactly around this opportunity — connecting AI, enterprise data and workflows. The company says its platform is already used by 85% of the Fortune 500, which gives it a powerful installed base to monetize the next generation of AI adoption.

So for me, the 25% paper gain is nice, but it isn't the reason I'm holding NOW. My bigger objective is to build a meaningful long-term position in a company that I believe can remain one of the key enterprise technology platforms of the AI era. I still have roughly 20% of my planned position left to deploy, and I intend to continue using DCA rather than rushing to complete it. If another pullback comes, I'll see it as another opportunity to accumulate. The market may continue to make NOW volatile in the short term, but as long as the underlying growth, AI adoption and enterprise demand remain intact, I'm comfortable staying patient. DCA first, let the business compound, and let time do the heavy lifting.

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